POST UTME BELLS UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's sole trader has a business bank account with a credit balance of ₦25,000. If the sole trader withdraws ₦15,000 for personal use, what is the new balance in the account?
A. ₦10,000
B. ₦20,000
C. ₦25,000
D. ₦30,000
Question 2
A firm's warehousing and stock control system involves the use of a first-in, first-out (FIFO) inventory management system. Which of the following is a disadvantage of this system?
A. It is easy to implement and maintain
B. It assumes that the oldest items in the inventory are sold first
C. It is more expensive than other inventory management systems
D. It is not suitable for perishable items
Question 3
A company is considering two trade options: one that involves exporting goods to a foreign country and another that involves importing goods from a foreign country. If the company expects a 20% increase in revenue from exporting and a 15% decrease in revenue from importing, what is the net change in revenue?
A. 5%
B. 10%
C. 15%
D. 20%
Question 4
A sole trader is a type of business organization that is owned and managed by one person. Which of the following is a characteristic of a sole trader?
A. Limited liability
B. Unlimited liability
C. Separation of ownership and management
D. No separation of ownership and management
Question 5
A company is considering the introduction of a new product line. What is the primary consideration for the company in terms of consumer protection?
A. The potential profit margins of the new product line
B. The potential risks and liabilities associated with the new product line
C. The potential impact of the new product line on the company's reputation
D. The potential competition from existing products in the market
Question 6
A company has a warehouse with a capacity of 10,000 units. If it receives an order for 5,000 units, what is the percentage of the warehouse's capacity that is utilized?
A. 25%
B. 50%
C. 75%
D. 87.5%
Question 7
A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the number of labor hours, and K is the capital invested. If the company wants to produce 100 units of output, and it has 100 labor hours available, how much capital should it invest?
A. ₦1000
B. ₦500
C. ₦2000
D. ₦2500
Question 8
In a consumer protection context, what is the primary purpose of the Consumer Protection Act of 1999?
A. To regulate business practices and protect consumers from unfair trade practices
B. To provide a framework for consumer education and awareness
C. To establish a consumer protection agency to handle complaints and disputes
D. To promote competition and fair trade practices in the market
Question 9
A company's sole trader has a business bank account with a credit balance of ₦25,000. If the sole trader withdraws ₦15,000 for personal use, what is the new balance in the account?
A. ₦10,000
B. ₦20,000
C. ₦25,000
D. ₦30,000
Question 10
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current input levels are L = 4 and K = 9, what is the marginal product of labor?
A. 1.5
B. 2
C. 2.5
D. 3
Question 11
A firm specializes in producing only one product. This specialization is an example of which of the following?
A. Economies of scale
B. Product differentiation
C. Division of labor
D. Vertical integration
Question 12
A consumer is considering purchasing a product from a retailer. What is the primary consideration for the consumer in terms of consumer protection?
A. The price of the product
B. The quality of the product
C. The warranty or guarantee offered by the retailer
D. The reputation of the retailer
Question 13
A company uses a marketing mix of 4Ps: product, price, promotion, and place. Which of the following is NOT one of the 4Ps?
A. Product
B. Price
C. Promotion
D. Packaging
Question 14
A company uses a marketing mix of 4Ps: product, price, promotion, and place. Which of the following is NOT one of the 4Ps?
A. Product
B. Price
C. Promotion
D. Packaging
Question 15
A company is considering exporting its products to a foreign market. Which of the following is a factor that affects the company's decision to export?
A. The company's production costs
B. The company's marketing strategy
C. The foreign market's demand for the product
D. The company's financial resources

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