POST UTME UI 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a marketing budget of ₦500,000. If it spends 30% of the budget on advertising and 20% on promotion, what is the remaining budget for other marketing activities?
A. ₦150,000
B. ₦200,000
C. ₦250,000
D. ₦300,000
Question 2
A sole trader's business is not registered with the Corporate Affairs Commission (CAC). Which of the following is a consequence of this?
A. The sole trader cannot claim tax relief on business expenses.
B. The sole trader is not required to keep a separate business bank account.
C. The sole trader's business is not protected from personal liability.
D. The sole trader cannot employ staff.
Question 3
A foreign trade agreement between two countries involves the exchange of goods worth ₦1,000,000. If the exchange rate is 1 USD = ₦500, what is the equivalent value in USD?
A. 2,000
B. 2,500
C. 3,000
D. 3,500
Question 4
A warehouse is using a first-in, first-out (FIFO) inventory management system. If the warehouse receives a new shipment of goods, what is the impact on the inventory levels?
A. Inventory levels decrease
B. Inventory levels increase
C. Inventory levels remain unchanged
D. Inventory levels fluctuate
Question 5
A company's cost function is given by the equation C(x) = 3x^2 + 2x, where x is the number of units produced. If the company produces 10 units, what is the total cost?
A. 100
B. 150
C. 200
D. 250
Question 6
A company uses the following transportation costs: ₦10,000 for land transport and ₦20,000 for air transport. If the company uses both modes of transport, what is the total transportation cost?
A. ₦30,000
B. ₦40,000
C. ₦50,000
D. ₦60,000
Question 7
A sole trader, Mr. A, has a business that generates annual sales of ₦1,500,000. His expenses include rent (₦200,000), salaries (₦300,000), and other expenses (₦100,000). What is Mr. A's net profit?
A. ₦800,000
B. ₦900,000
C. ₦1,000,000
D. ₦1,200,000
Question 8
A bank's financial statements show a net income of ₦500,000 and a total equity of ₦2,000,000. What is the bank's return on equity (ROE)?
A. 25%
B. 30%
C. 35%
D. 40%
Question 9
A sole trader, Mr. A, has a business income of ₦2,000,000 and business expenses of ₦800,000. What is his business profit?
A. ₦1,200,000
B. ₦1,600,000
C. ₦2,000,000
D. ₦2,400,000
Question 10
A consumer protection agency receives a complaint from a customer who claims that a company has sold a defective product. The agency investigates the complaint and finds that the product was indeed defective. However, the company has a clause in its contract that states that the customer must notify the company within 30 days of delivery if the product is defective. The customer did not notify the company within the specified time frame. What is the likely outcome of the agency's investigation?
A. The agency will order the company to replace the defective product.
B. The agency will fine the company for selling a defective product.
C. The agency will dismiss the complaint because the customer did not notify the company within the specified time frame.
D. The agency will order the company to pay compensation to the customer.
Question 11
A company has a share capital of ₦1,000,000, divided into 100,000 ordinary shares of ₦10 each. If the company issues 20,000 shares to the public at a premium of ₦5 per share, what is the total amount received from the public?
A. ₦100,000
B. ₦200,000
C. ₦250,000
D. ₦300,000
Question 12
A firm's marketing strategy involves a mix of both push and pull strategies. Which of the following is a characteristic of a pull strategy?
A. Creating awareness about the product among the target audience
B. Encouraging repeat purchases through loyalty programs
C. Providing incentives to intermediaries to push the product
D. Creating a sense of urgency among customers to make a purchase
Question 13
A company is considering exporting its products to a foreign country. The company's accountant has calculated the following costs associated with exporting: transportation cost = ₦100,000, insurance cost = ₦50,000, and documentation cost = ₦20,000. What is the total cost of exporting the products?
A. ₦170,000
B. ₦180,000
C. ₦190,000
D. ₦200,000
Question 14
A product has a probability of 0.4 of being defective. If 10 products are randomly selected, what is the probability that exactly 4 of them are defective?
A. 0.001
B. 0.01
C. 0.1
D. 0.5
Question 15
A company's production function is given by the equation Q = 2L + 3K, where Q is the quantity produced, L is the number of labor hours, and K is the amount of capital invested. If the company wants to produce 100 units of output, how many labor hours are required if the amount of capital invested is 20?
A. 10
B. 20
C. 30
D. 40

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