POST UTME UNIBEN 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a policy of maintaining a 15% buffer stock. If the current stock level is 3,000 units, what is the reorder point?
A. 2,250 units
B. 2,500 units
C. 3,000 units
D. 3,500 units
Question 2
A business has a warehouse with a capacity to store 10,000 units of a product. If the business receives a shipment of 8,000 units, what is the percentage of the warehouse that is occupied?
A. 80
B. 60
C. 40
D. 20
Question 3
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 100 units of output, and the price of labor is ₦10 per unit, and the price of capital is ₦20 per unit, how much should it spend on labor and capital?
A. ₦1000 labor, ₦2000 capital
B. ₦2000 labor, ₦1000 capital
C. ₦5000 labor, ₦5000 capital
D. ₦10000 labor, ₦10000 capital
Question 4
A company is considering outsourcing its production to a foreign country. The company's management team has identified several potential benefits of outsourcing, including reduced costs and increased efficiency. However, the company is also concerned about the potential risks associated with outsourcing, including the loss of control over production and the potential for quality control issues. Which of the following is the most likely outcome?
A. The company will decide to outsource production.
B. The company will decide not to outsource production.
C. The company will conduct further research on the potential risks and benefits of outsourcing.
D. The company will partner with a local company to outsource production.
Question 5
A bank's cash reserve ratio is 10%. If the bank has a deposit of ₦100,000, how much cash can it lend to its customers?
A. ₦90,000
B. ₦80,000
C. ₦70,000
D. ₦60,000
Question 6
In a consumer protection law, what is the primary purpose of the 'cooling-off period'?
A. To allow consumers to change their minds and cancel their purchases
B. To provide a time frame for consumers to compare prices and make informed decisions
C. To give businesses time to process and deliver goods
D. To allow consumers to return goods that do not meet their expectations
Question 7
A company is considering the introduction of a new product line. Which of the following marketing strategies would be most effective in promoting the new product?
A. Social media advertising
B. Influencer marketing
C. Content marketing
D. Email marketing
Question 8
In a sole trade business, what is the primary advantage of using a sole trader's personal assets to finance the business?
A. Limited liability
B. Tax benefits
C. Flexibility in decision-making
D. Access to personal assets
Question 9
A firm's supply chain management involves several activities. Which of the following is NOT a supply chain activity?
A. Procurement
B. Production
C. Distribution
D. Research and development
Question 10
A company has a share capital of ₦1,000,000, divided into 100,000 ordinary shares of ₦10 each. If the company issues 50,000 shares at a premium of ₦5 per share, what is the total amount received from the issue of shares?
A. ₦500,000
B. ₦750,000
C. ₦1,250,000
D. ₦1,500,000
Question 11
A consumer has purchased a product that has a manufacturing defect. Which of the following laws would provide the consumer with the most protection?
A. The Sale of Goods Act
B. The Consumer Protection Act
C. The Competition Act
D. The Companies Act
Question 12
A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦1,000,000, how much cash must it reserve?
A. ₦200,000
B. ₦250,000
C. ₦300,000
D. ₦400,000
Question 13
A company's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company increases its labor input from 100 units to 200 units, and its capital input from 100 units to 200 units, what is the percentage increase in the quantity produced?
A. 25%
B. 50%
C. 75%
D. 100%
Question 14
A firm's marketing strategy involves a mix of promotional tools. Which of the following is NOT a promotional tool?
A. Advertising
B. Public relations
C. Sales promotion
D. Research and development
Question 15
A company is considering investing in a new transportation system to improve its logistics and reduce costs. The company's management team has identified several potential options, including the use of trucks, trains, and airplanes. Which of the following is the most likely outcome?
A. The company will decide to invest in a new transportation system.
B. The company will decide not to invest in a new transportation system.
C. The company will conduct further research on the potential benefits and costs of investing in a new transportation system.
D. The company will partner with a local company to invest in a new transportation system.

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