POST UTME LASU 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's supply chain involves the transportation of goods from suppliers to a warehouse. Which of the following is a key factor that affects the choice of transportation mode?
A. Distance between suppliers and warehouse
B. Type of goods being transported
C. Cost of transportation
D. All of the above
Question 2
A company is considering exporting its products to the European Union. What is the primary advantage of using the Incoterms 2020 rules in international trade?
A. Reduced transportation costs
B. Simplified customs procedures
C. Clearer allocation of risks
D. Increased market access
Question 3
A business has a policy of paying 5% of its turnover as commission to its sales agents. If the business made a turnover of ₦1,000,000, how much will it pay as commission?
A. ₦25,000
B. ₦50,000
C. ₦75,000
D. ₦100,000
Question 4
A company's Board of Directors is responsible for
A. Strategic planning and decision-making
B. Day-to-day business operations and management
C. Financial management and accounting
D. All of the above
Question 5
In a sole trade business, the owner's personal assets are not protected from business liabilities. What is the primary reason for this?
A. Lack of separate business bank account
B. Insufficient business insurance coverage
C. Personal guarantee of business loans
D. Inadequate business registration
Question 6
A company has a share capital of ₦1,000,000, divided into 100,000 ordinary shares of ₦10 each. What is the company's share premium?
A. ₦100,000
B. ₦500,000
C. ₦900,000
D. ₦1,000,000
Question 7
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is NOT a characteristic of a successful marketing strategy?
A. It is focused on the target market
B. It is flexible and adaptable
C. It is based on the company's product features
D. It is focused on the company's profit maximization
Question 8
A company is considering using a digital marketing strategy to promote its products. What is the primary advantage of using social media advertising?
A. Increased brand awareness
B. Improved customer engagement
C. Targeted advertising
D. Reduced marketing costs
Question 9
A firm's marketing strategy involves a mix of advertising, sales promotions, and public relations. Which of the following is a key benefit of using advertising in a marketing mix?
A. Building brand awareness
B. Increasing sales revenue
C. Improving customer relationships
D. Enhancing product quality
Question 10
A consumer purchases a product for ₦10,000. The product has a warranty period of 2 years. If the consumer wants to purchase an extended warranty that covers the product for an additional 2 years, how much will it cost?
A. ₦2,000
B. ₦4,000
C. ₦6,000
D. ₦8,000
Question 11
In a sole trade business, what is the primary advantage of using a sole trader structure?
A. Limited liability
B. Easy to set up
C. Flexibility in decision-making
D. No tax implications
Question 12
A bank's primary function is to act as a financial intermediary between savers and borrowers. What is the main advantage of using a bank?
A. It provides a safe place to store money
B. It offers a wide range of financial services
C. It provides a low-cost way to borrow money
D. It offers a high return on investment
Question 13
A firm's supply chain involves the transportation of goods from the factory to the warehouse. Which of the following is the most appropriate mode of transportation?
A. Truck
B. Train
C. Ship
D. Airplane
Question 14
A company has a market value of ₦2,000,000 and a book value of ₦1,500,000. What is the company's market-to-book ratio?
A. 0.8
B. 1.0
C. 1.2
D. 1.5
Question 15
A firm's marketing mix involves the use of social media to promote its products. Which of the following is the primary benefit of this strategy?
A. Increased brand awareness
B. Improved customer engagement
C. Enhanced customer loyalty
D. Increased sales

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