POST UTME UNIBEN 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's financial statements show a net profit of ₦500,000. If the company's tax rate is 25%, what is the amount of tax paid?
A. ₦125,000
B. ₦250,000
C. ₦375,000
D. ₦500,000
Question 2
A company's sole trader has an annual turnover of ₦1,200,000. If the company's profit is 20% of its turnover, what is the company's profit?
A. ₦240,000
B. ₦240,000
C. ₦240,000
D. ₦240,000
Question 3
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, what is the amount of share capital raised?
A. ₦200,000
B. ₦400,000
C. ₦600,000
D. ₦800,000
Question 4
The ________ of a business refers to the process of managing and controlling the business's finances.
A. Finance
B. Marketing
C. Production
D. Human Resource Management
Question 5
A firm's cost function is given by C = 2L + 3K. If the firm is currently producing 4 units of output with 2 units of labor and 1 unit of capital, what is the total cost?
A. 10
B. 12
C. 14
D. 16
Question 6
A company's marketing strategy involves a 10% discount on all products. If a customer buys a product worth ₦1,500, how much will they pay?
A. ₦1,350
B. ₦1,400
C. ₦1,450
D. ₦1,500
Question 7
A sole trader has a business that sells goods online. The sole trader has a turnover of ₦10 million per annum and a profit of ₦2 million per annum. The sole trader's capital is ₦1 million. Calculate the sole trader's return on capital (ROC) using the formula: ROC = (Profit / Capital) x 100.
A. 20%
B. 25%
C. 30%
D. 35%
Question 8
The ________ of a business refers to the process of creating and maintaining a positive image of the business.
A. Marketing
B. Production
C. Finance
D. Human Resource Management
Question 9
The ________ of a business refers to the process of creating and maintaining a positive relationship with customers.
A. Marketing
B. Production
C. Finance
D. Human Resource Management
Question 10
A firm specializes in producing a particular good. This specialization leads to an increase in the firm's productivity. What is the term for this phenomenon?
A. Economies of scale
B. Division of labor
C. Comparative advantage
D. Opportunity cost
Question 11
The ________ of a business refers to the process of managing and controlling the business's resources.
A. Finance
B. Marketing
C. Production
D. Human Resource Management
Question 12
A firm is considering two different marketing strategies: a high-low pricing strategy or a penetration pricing strategy. Which strategy is more likely to increase the firm's market share?
A. High-low pricing strategy
B. Penetration pricing strategy
C. Price skimming strategy
D. Price discrimination strategy
Question 13
A company's consumer protection policy involves a 30-day return period. If a customer buys a product on January 15th, what is the last date they can return it?
A. February 14th
B. February 15th
C. February 28th
D. March 1st
Question 14
A bank's interest rate is 12% per annum. If a customer deposits ₦10,000 for 2 years, how much interest will they earn?
A. ₦2,400
B. ₦2,800
C. ₦3,200
D. ₦3,600
Question 15
The ________ of a business refers to the process of creating and maintaining a positive image of the business.
A. Marketing
B. Production
C. Finance
D. Human Resource Management

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