POST UTME BELLS UNIVERSITY 2019 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company is considering implementing a warehouse management system (WMS) to improve its inventory management. The WMS is expected to reduce inventory costs by 15% and improve inventory turnover by 10%. However, the WMS will also require an initial investment of ₦150,000. What is the expected return on investment (ROI) for the WMS?
Question 2
A sole trader's business is considered a separate legal entity from its owner. What is the primary reason for this separation?
Question 3
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current output is 16 units and the number of workers (L) is 4, how many units of capital (K) are required?
Question 4
A consumer has a budget of ₦1,000 and a preference for two goods: A and B. The prices of these goods are ₦200 and ₦300 respectively. If the consumer spends all their budget on good A, how much of good B can they afford?
Question 5
A firm is considering two different modes of transportation for its goods: road and rail. The cost of transporting goods by road is ₦150 per unit, while the cost of transporting goods by rail is ₦120 per unit. If the firm needs to transport 1000 units of goods, what is the total cost of transportation by road?
Question 6
The risk management process involves identifying, assessing, and mitigating risks to minimize their impact on the organization. This process is also known as
Question 7
In a monopolistically competitive market, a firm's demand curve is downward sloping due to the presence of many close substitutes. However, the firm still experiences a downward-sloping demand curve because of the following reason:
Question 8
A company's financial statements show that its current ratio is 2:1. However, the company's acid-test ratio is 1:1. What does this indicate about the company's liquidity position?
Question 9
A warehouse's inventory management system involves tracking stock levels. What type of inventory control system would be most effective in this scenario?
Question 10
A company's foreign trade involves the importation of goods from a foreign country. This is an example of
Question 11
A bank's primary function is to act as a financial intermediary. What is the main benefit of this function?
Question 12
A firm is considering two different modes of payment for its goods: cash and credit. The cost of payment by cash is ₦100 per unit, while the cost of payment by credit is ₦120 per unit. If the firm needs to pay for 1000 units of goods, what is the total cost of payment by credit?
Question 13
A company has a warehouse with a capacity to store 5000 units of goods. The warehouse is currently 70% full, and the company wants to store an additional 1500 units of goods. What is the minimum number of shelves that need to be added to the warehouse?
Question 14
In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied also increases. However, this is not always the case. What is the name of the phenomenon that occurs when an increase in price leads to a decrease in quantity supplied?
Question 15
A company is considering two marketing strategies: a traditional advertising campaign and a social media campaign. The traditional advertising campaign is expected to reach 80% of the target audience, while the social media campaign is expected to reach 60% of the target audience. However, the social media campaign is expected to be 20% more effective than the traditional advertising campaign. Which marketing strategy should the company choose?
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