POST UTME UNIOSUN 2020 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm is considering the use of a warehouse management system (WMS) to manage its inventory. Which of the following is a key benefit of WMS?
A. Improved inventory accuracy
B. Enhanced customer service
C. Reduced labor costs
D. Increased security risks
Question 2
A company's marketing mix is given by the 4 Ps: Product, Price, Place, and Promotion. Which of the following is NOT one of the 4 Ps?
A. Product
B. Price
C. Place
D. Profit
Question 3
The marketing mix is a tool used by marketers to plan and execute their marketing strategies. Which of the following is NOT a part of the marketing mix?
A. Product
B. Price
C. Promotion
D. Research and Development
Question 4
A company has a production process that involves the use of a machine that can produce 500 units per hour. However, the machine breaks down 10% of the time, resulting in a loss of production. Calculate the expected production rate per hour.
A. 450 units per hour
B. 475 units per hour
C. 500 units per hour
D. 525 units per hour
Question 5
A company offers a warranty on its products, which covers repairs and replacements for a specified period. What type of risk management strategy is this company employing?
A. Risk avoidance
B. Risk transfer
C. Risk retention
D. Risk reduction
Question 6
A company is considering the implementation of a new production process. Which of the following is a key factor to consider when evaluating the feasibility of this process?
A. The initial investment required
B. The potential return on investment
C. The impact on the business's cash flow
D. The effect on the business's tax liability
Question 7
A consumer has purchased a product that is defective. Which of the following is the consumer's right?
A. To return the product for a full refund
B. To exchange the product for a similar one
C. To claim compensation for damages
D. All of the above
Question 8
A firm has purchased a liability insurance policy to protect itself against potential lawsuits. Which of the following is a key feature of liability insurance?
A. The policy covers only property damage
B. The policy covers only bodily injury
C. The policy covers both property damage and bodily injury
D. The policy does not cover any type of liability
Question 9
A sole trader's business is considered a separate legal entity from its owner. Discuss the implications of this separation on the owner's personal liability.
A. The owner's personal assets are protected from business debts.
B. The owner is personally liable for business debts and can be sued in their personal capacity.
C. The business is responsible for paying taxes, but the owner is responsible for business debts.
D. The owner's personal assets are not protected from business debts, but they can be sued in their personal capacity.
Question 10
A sole trader is considering the purchase of a new piece of equipment for their business. Which of the following is a key consideration when making this decision?
A. The cost of the equipment
B. The potential return on investment
C. The impact on the business's cash flow
D. The effect on the business's tax liability
Question 11
A firm's export strategy involves the use of a third-party logistics provider to manage its supply chain. Which of the following is a benefit of this strategy?
A. Reduced transportation costs
B. Improved inventory management
C. Enhanced customer service
D. Increased security risks
Question 12
A company is considering the implementation of a new transportation system. Which of the following is a key benefit of this system?
A. Reduced transportation costs
B. Improved product quality
C. Increased production capacity
D. Enhanced customer service
Question 13
A firm specializes in producing a single product, which is a type of consumer good. The production process involves a series of stages, each with its own set of inputs and outputs. What is the primary advantage of specialization in this context?
A. Increased efficiency due to division of labor
B. Reduced costs due to economies of scale
C. Improved product quality due to focus on a single product
D. Enhanced customer satisfaction due to tailored products
Question 14
A company is considering the implementation of a just-in-time (JIT) inventory system. Which of the following is a key benefit of JIT?
A. Reduced inventory costs
B. Improved product quality
C. Increased production capacity
D. Enhanced customer service
Question 15
A consumer protection agency has received a complaint about a firm's unfair trading practices. The agency has decided to investigate the matter. Which of the following is a key principle of consumer protection law?
A. The principle of caveat emptor
B. The principle of informed consent
C. The principle of fairness and transparency
D. The principle of consumer sovereignty

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