POST UTME KSU 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's Memorandum of Association and Articles of Association are two separate documents that outline the company's constitution and internal management. Which of the following is a correct statement regarding these documents?
A. They are two separate documents that outline the company's constitution and internal management.
B. They are two separate documents that outline the company's constitution and internal management, but are not publicly available.
C. They are two separate documents that outline the company's constitution and internal management, but are not required by law.
D. They are two separate documents that outline the company's constitution and internal management, but are not binding on the company's members.
Question 2
A sole trader's business is considered a separate legal entity from its owner. However, in the event of the owner's death, the business is automatically dissolved. Which of the following is a correct statement regarding the dissolution of a sole trader's business?
A. The business is automatically dissolved and the assets are distributed among the creditors.
B. The business is automatically dissolved and the assets are distributed among the shareholders.
C. The business is not automatically dissolved and the assets are distributed among the creditors.
D. The business is not automatically dissolved and the assets are distributed among the shareholders.
Question 3
In a sole trade business, what is the primary advantage of using a partnership agreement?
A. Increased liability for the business owner
B. Improved decision-making through shared responsibilities
C. Enhanced credibility with customers and suppliers
D. Simplified tax obligations for the business owner
Question 4
A firm's marketing mix consists of
A. product, price, promotion, and place
B. product, price, promotion, and people
C. product, price, promotion, and process
D. product, price, promotion, and physical evidence
Question 5
A transportation company's logistics management system is designed to optimize
A. route planning
B. vehicle utilization
C. inventory management
D. all of the above
Question 6
A firm is considering two investment opportunities: Opportunity A, which has a 10% chance of earning ₦100,000 and a 90% chance of earning ₦0, and Opportunity B, which has a 20% chance of earning ₦50,000 and an 80% chance of earning ₦0. Which opportunity should the firm choose?
A. Opportunity A
B. Opportunity B
C. Either opportunity is acceptable
D. Neither opportunity is acceptable
Question 7
The diagram below represents a firm's
A. marginal cost curve
B. marginal revenue curve
C. average fixed cost curve
D. average variable cost curve
Question 8
The diagram below represents a firm's
A. marginal cost curve
B. marginal revenue curve
C. average fixed cost curve
D. average variable cost curve
Question 9
A company has a stock of 1000 units, with a selling price of ₦100 per unit. If the company wants to maintain a stock level of 500 units, what is the minimum number of units that should be sold to meet the desired stock level?
A. 200 units
B. 300 units
C. 400 units
D. 500 units
Question 10
A company's Memorandum of Association is a document that outlines the company's constitution and the rights and duties of its members. Which of the following is a correct statement regarding the Memorandum of Association?
A. It outlines the company's constitution and the rights and duties of its members.
B. It outlines the company's constitution and the rights and duties of its directors.
C. It outlines the company's constitution and the rights and duties of its creditors.
D. It outlines the company's constitution and the rights and duties of its shareholders.
Question 11
The diagram below represents a firm's
A. marginal cost curve
B. marginal revenue curve
C. average fixed cost curve
D. average variable cost curve
Question 12
A company has the following cost function: C = 2L + 3K. If the price of labor is ₦10 and the price of capital is ₦20, what is the minimum cost of production?
A. ₦30
B. ₦40
C. ₦50
D. ₦60
Question 13
A company has the following budget constraint: 2x + 3y = 12. If the price of x is ₦2 and the price of y is ₦3, what is the optimal combination of x and y?
A. x = 2, y = 2
B. x = 3, y = 1
C. x = 4, y = 0
D. x = 0, y = 4
Question 14
In a perfectly competitive market, the demand curve for a firm's product is its
A. marginal revenue curve
B. marginal cost curve
C. average revenue curve
D. average cost curve
Question 15
A sole trader's business is registered under which of the following?
A. Partnership
B. Company
C. Sole Trader
D. Limited Liability Partnership

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