POST UTME FUTA 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's business law requires it to obtain the consent of its shareholders before making any major decisions. What type of consent would the company need to obtain?
A. Ordinary resolution
B. Special resolution
C. Written resolution
D. Unanimous consent
Question 2
A company's foreign trade involves importing goods from a foreign country. The company pays for the goods in the foreign currency. What type of exchange rate would the company use to convert the foreign currency to the domestic currency?
A. Spot rate
B. Forward rate
C. Market rate
D. Nominal rate
Question 3
A company's Articles of Association state that the company's business is to manufacture and sell textiles. However, the company starts manufacturing and selling electronics. What is the legal implication of this?
A. The company's business is still valid.
B. The company's shareholders are not protected.
C. The company's directors are liable for any business debts.
D. The company's business is not valid.
Question 4
A company's marketing strategy involves creating a brand image that appeals to a specific demographic. This approach is an example of which of the following marketing strategies?
A. Segmentation
B. Targeting
C. Positioning
D. Differentiation
Question 5
The following diagram shows the demand and supply curves for a competitive market. If the price of the good increases from P1 to P2, what will happen to the equilibrium quantity?
A. Increase
B. Decrease
C. Remain the same
D. Become negative
Question 6
A company's stock is currently trading at ₦120 per share. If the company announces a 2-for-1 stock split, what will be the new stock price?
A. ₦60
B. ₦80
C. ₦100
D. ₦120
Question 7
A firm's marketing strategy involves creating a unique selling proposition (USP) to differentiate its product from competitors. Which of the following is a characteristic of a USP?
A. It is a statement that highlights the product's features and benefits
B. It is a statement that emphasizes the product's price advantage
C. It is a statement that focuses on the product's quality
D. It is a statement that emphasizes the product's brand name
Question 8
A firm's production function is given by Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in output?
A. 5%
B. 10%
C. 12%
D. 15%
Question 9
A consumer protection law requires businesses to provide clear and accurate information about their products. What type of information would the law require businesses to provide?
A. Product description
B. Price information
C. Warranty information
D. All of the above
Question 10
The concept of 'just-in-time' inventory management is closely related to the principles of which of the following transportation modes?
A. Air Transport
B. Rail Transport
C. Road Transport
D. Sea Transport
Question 11
A company is considering the use of a lean manufacturing approach to improve its operations. Which of the following is a key principle of lean manufacturing?
A. Continuous Improvement
B. Employee Empowerment
C. Customer Focus
D. All of the above
Question 12
A warehouse manager is considering the use of a first-in-first-out (FIFO) inventory system. Which of the following is a potential advantage of this system?
A. Reduced Inventory Costs
B. Improved Inventory Turnover
C. Increased Storage Capacity
D. Enhanced Product Quality
Question 13
A bank is considering offering a new credit card product. Which of the following is a key factor in determining the interest rate for the credit card?
A. The bank's target profit margin
B. The credit card holder's credit score
C. The credit card holder's income level
D. The credit card holder's employment status
Question 14
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, how many units of labor (L) and capital (K) should it hire?
A. L = 4, K = 4
B. L = 8, K = 2
C. L = 2, K = 8
D. L = 16, K = 1
Question 15
A consumer's indifference curve is given by the equation U = 2x + 3y, where x and y are the quantities of two goods. If the consumer's income is ₦100 and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle?
A. (10, 5)
B. (5, 10)
C. (15, 3)
D. (3, 15)

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: