POST UTME WELLSPRING UNIVERSITY 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a warehouse with a capacity of 10,000 units. If the company receives a shipment of 5,000 units, what is the percentage of the warehouse capacity utilized?
A. 50%
B. 60%
C. 70%
D. 80%
Question 2
A company's sole trader has an annual turnover of ₦5,000,000. Assuming a tax rate of 20% and a profit margin of 15%, calculate the sole trader's tax liability.
A. ₦750,000
B. ₦1,000,000
C. ₦1,250,000
D. ₦1,500,000
Question 3
A firm's ability to adapt to changing market conditions is a key aspect of its
A. Competitive Advantage
B. Market Structure
C. Barriers to Entry
D. Economies of Scale
Question 4
The 'Theory of Planned Behaviour' suggests that an individual's intention to perform a behaviour is influenced by
A. Attitude, Subjective Norm, and Perceived Behavioural Control
B. Attitude and Subjective Norm
C. Perceived Behavioural Control and Subjective Norm
D. Attitude and Perceived Behavioural Control
Question 5
A company's sole trader has an annual turnover of ₦5,000,000. Assuming a tax rate of 20% and a profit margin of 15%, calculate the sole trader's profit.
A. ₦750,000
B. ₦1,000,000
C. ₦1,250,000
D. ₦1,500,000
Question 6
A bank's cash reserve ratio is 20%. If the bank has a cash reserve of ₦1,000,000, what is the maximum amount of loans it can make?
A. ₦4,000,000
B. ₦5,000,000
C. ₦6,000,000
D. ₦7,000,000
Question 7
A company has a warehouse with a capacity to store 5000 units of a product. The warehouse is currently 70% full, with 3500 units stored. If the company receives an order for 1200 units, what is the maximum number of units that can be stored in the warehouse after fulfilling the order?
A. 2500
B. 3000
C. 3500
D. 4000
Question 8
The Consumer Protection Act of 1999 in Nigeria provides for the protection of consumers from unfair trade practices. Which of the following is a fundamental principle of consumer protection?
A. The right to safety
B. The right to be heard
C. The right to information
D. The right to choose
Question 9
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm wants to increase its revenue by 20%, what should be the new price?
A. ₦40
B. ₦50
C. ₦60
D. ₦70
Question 10
The concept of 'Just-in-Time' inventory management involves
A. Maintaining a large inventory buffer
B. Reducing inventory levels to minimize holding costs
C. Increasing production capacity to meet demand
D. Implementing a push-based supply chain strategy
Question 11
A firm's production function is given by Q = 2L^(1/2)K^(1/2), where L is labor and K is capital. If the firm wants to increase its output by 20% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 20%
C. 30%
D. 40%
Question 12
A sole trader business has a profit of ₦100,000 and a loss of ₦20,000 in the current year. What is the net profit for the year?
A. ₦80,000
B. ₦90,000
C. ₦100,000
D. ₦110,000
Question 13
A firm's 'SWOT Analysis' involves identifying its
A. Strengths, Weaknesses, Opportunities, and Threats
B. Strengths and Weaknesses
C. Opportunities and Threats
D. Only Strengths
Question 14
A bank is considering offering a new loan product to its customers. Which of the following is a key consideration in the decision-making process?
A. The interest rate and fees
B. The credit risk and default rate
C. The liquidity and funding requirements
D. The regulatory and compliance requirements
Question 15
A marketing manager is developing a new advertising campaign for a product. Which of the following is a key objective of the campaign?
A. To increase brand awareness
B. To generate leads and sales
C. To build customer loyalty
D. To create a buzz and generate publicity

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