POST UTME UNIPORT 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's business law requires it to comply with all relevant regulations and laws. Which of the following is a key aspect of business law?
A. Contract law
B. Tort law
C. Employment law
D. All of the above
Question 2
A company's business units are organized into a hierarchical structure. If the company has 5 departments, each with 3 sub-departments, and each sub-department has 2 teams, how many teams are there in total?
A. 15
B. 30
C. 45
D. 60
Question 3
In a sole trade business, the owner's personal assets are not protected from business liabilities. What is the name of this business structure?
A. Sole Proprietorship
B. Partnership
C. Limited Liability Company
D. Cooperative Society
Question 4
A sole trader's business is affected by the following factors: market conditions, government policies, and technological advancements. Which of the following is a characteristic of this business?
A. High level of risk
B. Low level of control
C. High level of flexibility
D. Low level of adaptability
Question 5
A consumer purchases a product online and receives a defective item. The consumer files a complaint with the online retailer, but the retailer refuses to provide a refund or replacement. What law protects consumers in this situation?
A. The Consumer Protection Act
B. The Nigerian Consumer Protection Council Act
C. The Electronic Commerce Act
D. The Online Retailer's Code of Conduct
Question 6
A company's memorandum of association states that the company's objects include the manufacture and sale of goods. What is the implication of this provision?
A. The company can only manufacture goods
B. The company can only sell goods
C. The company can engage in any business activity
D. The company can only engage in the manufacture and sale of goods
Question 7
A company's articles of association state that the company's shares can be transferred by a shareholder to another person. What is the implication of this provision?
A. The company is a private company
B. The company is a public company
C. The company's shares can be transferred to any person
D. The company's shares can only be transferred to a shareholder
Question 8
A firm is considering two different production processes for a new product. Process A requires an initial investment of ₦1,000,000 and produces 10,000 units per month, while Process B requires an initial investment of ₦500,000 and produces 5,000 units per month. If the firm expects to sell the product at ₦100 per unit, what is the break-even point for each process?
A. Process A: 5,000 units, Process B: 10,000 units
B. Process A: 10,000 units, Process B: 5,000 units
C. Process A: 20,000 units, Process B: 15,000 units
D. Process A: 15,000 units, Process B: 20,000 units
Question 9
A company's sole trader has a business that generates an average annual revenue of ₦12,000,000. If the sole trader's tax rate is 25%, and the company has a 10% profit margin, what is the sole trader's net profit after tax?
A. ₦1,200,000
B. ₦2,400,000
C. ₦3,600,000
D. ₦4,800,000
Question 10
A company's transport manager wants to reduce fuel consumption while maintaining delivery schedules. Which mode of transportation would she choose?
A. Truck
B. Train
C. Ship
D. Airplane
Question 11
A firm's production process involves the use of a machine that requires regular maintenance to ensure optimal performance. What is the primary purpose of maintenance in this context?
A. To reduce production costs
B. To increase product quality
C. To improve machine efficiency
D. To reduce waste
Question 12
A company's articles of association may be altered by a special resolution passed by a 75% majority of its shareholders. What is the name of this type of resolution?
A. Ordinary Resolution
B. Special Resolution
C. Extraordinary Resolution
D. Emergency Resolution
Question 13
A consumer protection law requires businesses to provide clear and accurate information about their products. Which of the following is a key principle of consumer protection?
A. Transparency in advertising
B. Fairness in pricing
C. Safety in product design
D. All of the above
Question 14
A consumer protection law requires that all goods sold in a market must be accompanied by a warranty. What is the purpose of this warranty?
A. To protect the consumer from defective products
B. To ensure the product meets industry standards
C. To provide a guarantee of product quality
D. To promote fair competition among sellers
Question 15
A foreign trade agreement between two countries involves the exchange of goods and services. Which of the following is a benefit of this agreement?
A. Increased trade barriers
B. Improved economic efficiency
C. Enhanced political stability
D. Reduced economic growth

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: