POST UTME COVENANT UNIVERSITY 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's revenue is calculated by multiplying the price per unit by the number of units sold. If a firm sells 100 units at 10 per unit, its revenue is
A. 1000
B. 10000
C. 5000
D. 2000
Question 2
A company's marketing strategy involves a 10% discount on all products. If the original price of a product is ₦1,000, what is the new price after the discount?
A. ₦900
B. ₦950
C. ₦1,000
D. ₦1,050
Question 3
A bank's balance sheet is a financial statement that presents its assets, liabilities, and equity at a specific point in time. Which of the following is NOT a type of asset on a bank's balance sheet?
A. Cash
B. Loans
C. Investments
D. Deposits
Question 4
A logistics company uses a transportation management system to optimize its delivery routes. What is the primary benefit of using this system?
A. Reduced transportation costs
B. Improved delivery times
C. Enhanced customer satisfaction
D. Increased fuel efficiency
Question 5
A company is considering outsourcing its logistics to a third-party provider. What are the main benefits of outsourcing logistics?
A. Reduced costs
B. Improved efficiency
C. Increased flexibility
D. All of the above
Question 6
A company is considering entering a new market. What are the main factors that should be considered when evaluating the feasibility of entering a new market?
A. Market size and growth potential
B. Competitor analysis
C. Regulatory environment
D. All of the above
Question 7
A consumer purchases a product with a price of ₦5,000. The product is subject to a 10% sales tax. What is the total amount the consumer must pay?
A. ₦5,500
B. ₦5,000
C. ₦5,100
D. ₦5,200
Question 8
A warehouse manager is responsible for maintaining a high level of inventory accuracy. What is the primary method used to achieve this?
A. Cycle counting
B. Physical inventory counts
C. Barcode scanning
D. Inventory management software
Question 9
A warehouse's inventory management system is designed to track the movement of goods from receipt to shipment. Which of the following is NOT a type of inventory control method?
A. Just-In-Time (JIT)
B. Economic Order Quantity (EOQ)
C. Materials Requirements Planning (MRP)
D. Total Quality Management (TQM)
Question 10
A consumer protection agency has received a complaint about a company's advertising practices. The company has been accused of making false claims about its product's benefits. Which of the following is a legal requirement for advertising in Nigeria?
A. The company must provide evidence to support its claims
B. The company must disclose any potential conflicts of interest
C. The company must obtain prior approval from the consumer protection agency
D. The company must comply with the Advertising Standards Authority of Nigeria (ASAN) code
Question 11
A sole trader has a business income of ₦200,000 and business expenses of ₦150,000. What is the sole trader's profit?
A. ₦50,000
B. ₦100,000
C. ₦200,000
D. ₦250,000
Question 12
A sole trader is considering expanding their business to a partnership. What are the main advantages of a partnership compared to a sole trader?
A. Increased financial resources
B. Shared risk and responsibility
C. Improved decision-making
D. All of the above
Question 13
A firm's warehouse is designed to store goods in a way that minimizes the risk of damage. This is an example of which of the following warehousing strategies?
A. First-In-First-Out (FIFO)
B. Last-In-First-Out (LIFO)
C. Just-In-Time (JIT)
D. Cross-Docking
Question 14
A company's marketing mix is a combination of four key elements: product, price, promotion, and place. Which of the following is NOT a part of the product element?
A. Product Life Cycle
B. Product Positioning
C. Product Line
D. Product Mix
Question 15
A consumer protection law requires businesses to provide clear and accurate information about their products. This is an example of which of the following consumer protection measures?
A. Labeling
B. Packaging
C. Advertising
D. Warranty

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