POST UTME UI 2018 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company's marketing strategy involves a 20% discount on all products. If a product originally costs ₦10,000, calculate the selling price after the discount.
Question 2
A consumer protection law requires businesses to provide a 7-day cooling-off period for customers to return goods. If a customer returns a product after 10 days, what is the likely outcome?
Question 3
A company is considering the introduction of a new product line. What is the primary factor that the company should consider before making a decision?
Question 4
A company's financial statements for the year ended December 31, 2017, showed a net profit of ₦1,500,000. The company's tax rate is 25%. Calculate the amount of tax payable for the year.
Question 5
A warehouse has a storage capacity of 1000 units. If the warehouse is currently storing 500 units, what is the maximum number of units that can be added without exceeding the storage capacity?
Question 6
A bank is required to maintain a minimum capital adequacy ratio of 10% under the Banking and Other Financial Institutions Act (BOFIA) of 1991. What is the purpose of this requirement?
Question 7
A company is considering the use of a new marketing strategy. What is the primary benefit of using social media marketing?
Question 8
A company is considering the introduction of a new product line. What type of risk is the company facing?
Question 9
A consumer protection law states that a company must provide a 30-day warranty on all products. If a product is purchased on January 1, 2018, and the warranty period ends on January 30, 2018, calculate the number of days the warranty is valid.
Question 10
A sole trader, Mr. A, has a business income of ₦2,000,000 and a business expense of ₦800,000. Calculate Mr. A's business profit.
Question 11
A logistics company uses a just-in-time (JIT) inventory system to manage its stock levels. What is the primary benefit of this system?
Question 12
A firm specializes in producing only one product. If the marginal cost of producing the product is ₦50 and the marginal revenue is ₦60, what is the profit-maximizing quantity?
Question 13
A firm's assets are valued at ₦10 million, liabilities are ₦5 million, and equity is ₦5 million. If the firm issues 10,000 new shares at ₦10 per share, what is the new equity value?
Question 14
The Consumer Protection Act of 1999 provides for the protection of consumers in Nigeria. Which of the following is a fundamental principle of consumer protection?
Question 15
A consumer has purchased a product that has a defect. What is the primary remedy available to the consumer?
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