POST UTME UNIBEN 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's Memorandum and Articles of Association are not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The company is not entitled to issue share certificates.
B. The company is not entitled to sue or be sued in its own name.
C. The company is not entitled to limited liability.
D. The company is not entitled to pay taxes.
Question 2
A firm specializes in producing only one product. What is the economic term for this type of specialization?
A. Monopolistic competition
B. Perfect competition
C. Monopoly
D. Single-product specialization
Question 3
A sole trader's business is considered a separate legal entity from its owner. Which of the following is a consequence of this separation?
A. The owner is personally liable for the business's debts.
B. The business is taxed separately from its owner.
C. The owner has unlimited liability for the business's actions.
D. The business is not required to file annual accounts.
Question 4
A company has a total of 100 employees, with 60% of them being male and 40% being female. If the company has a policy of promoting 10% of its employees, how many employees will be promoted?
A. 6
B. 8
C. 10
D. 12
Question 5
A firm is considering two different modes of transportation for its goods: road and rail. The cost of transporting goods by road is ₦500 per kilometer, while the cost of transporting goods by rail is ₦300 per kilometer. If the firm needs to transport goods for 100 kilometers, what is the total cost of transportation by road and rail?
A. ₦50,000
B. ₦60,000
C. ₦70,000
D. ₦80,000
Question 6
In a sole trader business, what is the primary advantage of using a sole proprietorship structure?
A. Limited liability
B. Unlimited liability
C. Easy to set up
D. Tax benefits
Question 7
Under the Consumer Protection Act, what is the primary responsibility of the Consumer Protection Council in Nigeria?
A. To investigate consumer complaints and provide redress
B. To regulate consumer behavior and enforce compliance
C. To promote consumer education and awareness
D. To provide legal representation for consumers
Question 8
A company produces two products, A and B. Product A requires 2 hours of labor and 3 hours of machine time, while product B requires 3 hours of labor and 2 hours of machine time. If the company has 120 hours of labor and 180 hours of machine time available, how many units of product A can be produced?
A. 30
B. 40
C. 50
D. 60
Question 9
A sole trader's business is not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The business is not entitled to limited liability.
B. The business is not entitled to issue share certificates.
C. The business is not entitled to sue or be sued in its own name.
D. The business is not entitled to pay taxes.
Question 10
The Consumer Protection Act of 1999 provides for the protection of consumers from unfair trade practices. Which of the following is a key provision of the Act?
A. Prohibition of unfair contract terms
B. Establishment of a Consumer Protection Council
C. Compensation for consumers who suffer loss or damage
D. Regulation of consumer credit
Question 11
A bank's liquidity ratio is calculated as the ratio of its liquid assets to its total deposits. If a bank has ₦500 million in liquid assets and ₦1.5 billion in total deposits, what is its liquidity ratio?
A. 0.33
B. 0.67
C. 1.00
D. 1.50
Question 12
A company exports 500 units of a product to a foreign country. If the exchange rate is ₦200 per dollar and the company earns a profit of 10 per unit, what is the total profit in naira?
A. ₦5,000,000
B. ₦5,500,000
C. ₦6,000,000
D. ₦6,500,000
Question 13
A company uses a marketing strategy that involves creating a sense of urgency to encourage customers to make a purchase. This is an example of which of the following?
A. Scarcity marketing
B. Loss aversion
C. Social proof
D. Authority marketing
Question 14
A company uses a communication channel that involves the use of the internet to communicate with customers. Which of the following is a key advantage of this channel?
A. High speed
B. Low cost
C. Flexibility
D. High capacity
Question 15
A firm specializes in the production of a single product, which is sold in both domestic and foreign markets. The firm's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. The firm's revenue function is given by R = 200Q. If the firm's labor and capital inputs are 100 and 400, respectively, what is the firm's profit-maximizing output?
A. 10
B. 20
C. 30
D. 40

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