POST UTME IMS U 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering two different transportation modes: Mode A, which involves using trucks, and Mode B, which involves using trains. Which of the following is a characteristic of Mode A?
A. It is a fast mode of transportation.
B. It is a slow mode of transportation.
C. It is a low-cost mode of transportation.
D. It is a high-cost mode of transportation.
Question 2
A company has two warehouses, A and B. Warehouse A has 100 units of goods, and warehouse B has 150 units of goods. The cost of transporting one unit of goods from warehouse A to warehouse B is ₦10, and the cost of transporting one unit of goods from warehouse B to warehouse A is ₦15. If the company wants to transport the goods to minimize the total cost, how many units of goods should be transported from warehouse A to warehouse B?
A. 20
B. 30
C. 40
D. 50
Question 3
A company has the following balance sheet:
A. ₦100,000
B. ₦150,000
C. ₦200,000
D. ₦250,000
Question 4
A firm's revenue function is given by the equation R(x) = 2x^2 + 5x - 3, where x is the number of units sold. If the firm sells 10 units, what is the revenue?
A. ₦120
B. ₦150
C. ₦180
D. ₦200
Question 5
A company has the following income statement:
A. ₦100,000
B. ₦150,000
C. ₦200,000
D. ₦250,000
Question 6
A company's financial statement includes the following accounts: Revenue, Cost of Goods Sold, and Net Profit. Which of the following accounts is NOT included in the financial statement?
A. Revenue
B. Cost of Goods Sold
C. Net Profit
D. Dividend
Question 7
A company's transportation costs are increasing due to higher fuel prices. Which of the following is a potential strategy the company may use to mitigate these costs?
A. Increase the frequency of deliveries to reduce transportation costs
B. Use more fuel-efficient vehicles to reduce fuel consumption
C. Outsource transportation services to a third-party provider
D. Implement a fuel surcharge on customers to offset increased costs
Question 8
A firm's production function is given by Q = 2L + 3K, where Q is output, L is labor, and K is capital. If the firm increases labor from 10 units to 15 units, and capital remains constant at 5 units, what is the new output level?
A. 35
B. 40
C. 45
D. 50
Question 9
A sole trader has the following transactions for the month of January:
A. ₦10,000
B. ₦15,000
C. ₦20,000
D. ₦25,000
Question 10
A bank's decision to increase interest rates on savings accounts may lead to a decrease in the money supply. Which of the following is a potential consequence of this action?
A. Increased borrowing costs for consumers
B. Reduced demand for loans from businesses
C. Increased inflation due to higher interest rates
D. Decreased savings rates for depositors
Question 11
A company's marketing strategy includes the following elements: Market Research, Market Segmentation, and Target Marketing. Which of the following elements is NOT included in the marketing strategy?
A. Market Research
B. Market Segmentation
C. Target Marketing
D. Product Development
Question 12
A consumer has an income of ₦5,000 and buys two goods, A and B. The prices of the goods are ₦1,000 and ₦2,000, respectively. If the consumer's budget constraint is 5,000 = 1,000x + 2,000y, where x and y are the quantities of goods A and B consumed, respectively, what is the consumer's indifference curve?
A. ( 5,000 = 1,000x + 2,000y )
B. ( 5,000 = 2,000x + 1,000y )
C. ( 5,000 = 1,000x - 2,000y )
D. ( 5,000 = 2,000x - 1,000y )
Question 13
A company uses a warehouse management system (WMS) to track inventory levels. What is the primary benefit of using a WMS?
A. Improved inventory accuracy
B. Increased storage capacity
C. Reduced labor costs
D. Enhanced supply chain visibility
Question 14
A company has two business units, A and B. Unit A has a profit of ₦100000 and a capital of ₦500000, while unit B has a profit of ₦80000 and a capital of ₦200000. If the company wants to maximize its total profit, what should it do?
A. Increase the capital of unit A
B. Increase the capital of unit B
C. Increase the profit of unit A
D. Increase the profit of unit B
Question 15
A company is considering the introduction of a new product line. The marketing manager has estimated that the product will generate an additional ₦1,500,000 in revenue per year. However, the production manager has estimated that the product will require an additional ₦750,000 in fixed costs per year. What is the net increase in profit per year?
A. ₦750,000
B. ₦1,250,000
C. ₦1,500,000
D. ₦2,000,000

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