POST UTME FUTO 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a warehouse with a capacity of 10,000 units. The warehouse is currently 70% full. If 500 units are removed from the warehouse, what is the new percentage of the warehouse that is full?
A. 50%
B. 60%
C. 70%
D. 80%
Question 2
A bank is sued by a customer for breach of contract. The bank's liability is unlimited. Which of the following is a correct statement regarding the bank's liability?
A. The bank's liability is limited to the amount of the purchase price of the goods sold.
B. The bank's liability is unlimited and the customer can claim for all damages.
C. The bank's liability is limited to the amount of the contract price.
D. The bank's liability is limited to the amount of the purchase price of the goods sold plus interest.
Question 3
A transport company has a fleet of 10 buses that travel an average of 200 km per day. If the company wants to increase the average distance traveled by 20% and the fuel consumption rate is 10 km/liter, what is the total fuel consumption per day?
A. 200 liters
B. 250 liters
C. 300 liters
D. 350 liters
Question 4
A company is sued for breach of contract by a supplier. The company's liability is limited by the Sale of Goods Act. Which of the following is a correct statement regarding the company's liability?
A. The company's liability is unlimited and the supplier can claim for all damages.
B. The company's liability is limited to the amount of the purchase price of the goods sold.
C. The company's liability is limited to the amount of the contract price.
D. The company's liability is limited to the amount of the purchase price of the goods sold plus interest.
Question 5
A company has a warehouse with a capacity of 10,000 units. The warehouse is currently 70% full. If 500 units are added to the warehouse, what is the new percentage of the warehouse that is full?
A. 50%
B. 60%
C. 70%
D. 80%
Question 6
A bank's financial services include the provision of loans to customers. Which of the following is a key consideration when evaluating the creditworthiness of a loan applicant?
A. The applicant's credit history
B. The applicant's income level
C. The applicant's employment status
D. The applicant's age
Question 7
A company is sued for negligence in the sale of a defective product. The company's liability is limited by the Consumer Protection Act. Which of the following is a correct statement regarding the company's liability?
A. The company is liable for all damages caused by the defective product.
B. The company is liable only for the cost of repairing or replacing the defective product.
C. The company is not liable for any damages caused by the defective product.
D. The company's liability is limited to the amount of the purchase price of the defective product.
Question 8
A company is considering two marketing strategies: Strategy A, which involves a 10% discount on all products, and Strategy B, which involves a 5% increase in product prices. If the company's revenue is expected to increase by 15% under Strategy A, and decrease by 8% under Strategy B, which strategy should the company adopt to maximize its revenue?
A. Strategy A
B. Strategy B
C. Both strategies are equally effective
D. Neither strategy is effective
Question 9
A firm's cost function is given by C = 100 + 2L + 3K, where C is cost, L is labor, and K is capital. If the firm increases labor from 50 to 75 units, and capital from 50 to 75 units, what is the percentage change in cost?
A. 10%
B. 20%
C. 30%
D. 40%
Question 10
A marketing manager is responsible for promoting a new product. The product has a unique feature that sets it apart from other products in the market. Which of the following marketing strategies would be most effective in promoting the product?
A. Social media marketing
B. Influencer marketing
C. Content marketing
D. Event marketing
Question 11
A company has a fleet of vehicles that are used for transportation. The company wants to reduce its fuel consumption and lower its carbon footprint. Which of the following options would be most effective in achieving this goal?
A. Using electric vehicles
B. Using hybrid vehicles
C. Using vehicles with better fuel efficiency
D. Reducing the number of vehicles in the fleet
Question 12
A firm's insurance policy covers losses due to natural disasters. What type of insurance is this?
A. Liability insurance
B. Property insurance
C. Casualty insurance
D. Disability insurance
Question 13
A company's sole trader has a warehouse with a capacity of 10,000 units. If the company's average daily stock-out rate is 50 units, and the stock-out rate is directly proportional to the square root of the number of units in stock, what is the maximum number of units that can be stored in the warehouse?
A. 5,000
B. 7,071
C. 10,000
D. 12,247
Question 14
A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the price increases from 10 to 15 units, what is the percentage change in quantity demanded?
A. 10%
B. 20%
C. 30%
D. 40%
Question 15
A warehouse has a storage capacity of 10,000 units. The warehouse is currently 70% full, with 7,000 units stored. If 1,500 units are received in a shipment, what is the new percentage of the warehouse that is full?
A. 60%
B. 65%
C. 70%
D. 75%

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