POST UTME ACHIEVERS UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's inventory management system uses a first-in-first-out (FIFO) method. If the company has 150 units of a product with a cost of ₦120 per unit, and 50 units are sold, what is the total value of the remaining units?
A. ₦18,000
B. ₦19,500
C. ₦20,250
D. ₦21,000
Question 2
A company has a policy of paying its employees a bonus of 10% of their monthly salary if they meet their performance targets. If an employee earns a monthly salary of ₦100,000 and meets their performance targets, what is the total amount of bonus they will receive?
A. ₦10,000
B. ₦11,000
C. ₦12,000
D. ₦13,000
Question 3
A firm's cost function is given by C(x) = 2x^2 + 5x + 10, where x is the number of units produced. If the firm produces 10 units, what is its total cost?
A. ₦150
B. ₦200
C. ₦250
D. ₦300
Question 4
A warehouse's inventory control system is based on the principle of
A. First-In-First-Out (FIFO)
B. Last-In-First-Out (LIFO)
C. Average Cost
D. Specific Identification
Question 5
A consumer purchases a product for ₦5,000. If the product is subject to a 5% sales tax, how much will the consumer pay in total?
A. ₦5,250
B. ₦5,300
C. ₦5,350
D. ₦5,400
Question 6
A sole trader has a business income of ₦500,000 and expenses of ₦300,000. What is the profit before tax?
A. ₦100,000
B. ₦150,000
C. ₦200,000
D. ₦250,000
Question 7
A bank's cash reserve ratio is 20%. If the bank has ₦10,000,000 in deposits, how much cash must it hold in reserve?
A. ₦2,000,000
B. ₦2,500,000
C. ₦2,000,000
D. ₦2,750,000
Question 8
A foreign trade agreement between two countries is based on the principle of
A. Most-Favored-Nation (MFN)
B. Reciprocal Trade Agreement
C. Tariff Reduction
D. Quota System
Question 9
A company is sued for violating the Consumer Protection Act. The company claims that the product was not defective at the time of sale. However, the consumer alleges that the product was defective and caused harm. Which of the following is a valid defense for the company?
A. The company can argue that the consumer was aware of the product's defects at the time of purchase.
B. The company can claim that the product was not used as intended, which caused the harm.
C. The company can argue that the harm was caused by a third party, not the product itself.
D. The company can claim that the product was not defective at the time of sale.
Question 10
A consumer purchases a product for ₦10,000 and pays a 10% sales tax. What is the total amount the consumer pays?
A. ₦11,000
B. ₦11,100
C. ₦11,200
D. ₦11,300
Question 11
A company produces 500 units of a product per day. If the production cost is ₦200 per unit, what is the total daily production cost?
A. ₦100,000
B. ₦110,000
C. ₦120,000
D. ₦130,000
Question 12
A consumer purchases a product for ₦10,000. If the product is subject to a 10% sales tax, how much will the consumer pay in total?
A. ₦11,000
B. ₦11,100
C. ₦11,200
D. ₦11,300
Question 13
A company's transportation costs are ₦1,000,000 for a 10-ton shipment. What is the cost per ton?
A. ₦100,000
B. ₦90,000
C. ₦110,000
D. ₦120,000
Question 14
A consumer's indifference curve is given by the equation u(x,y) = 2x + 3y. If the consumer's current consumption bundle is (x,y) = (4,6), what is the consumer's current utility level?
A. 22
B. 24
C. 26
D. 28
Question 15
A company is considering entering into a joint venture with another company. Which of the following is a key consideration for the company?
A. The company should consider the potential risks of joint venture, including the risk of loss of control.
B. The company should consider the potential benefits of joint venture, including increased market share.
C. The company should consider the potential impact on their business reputation, including the risk of negative publicity.
D. The company should consider the potential impact on their personal finances, including the risk of increased taxes.

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