POST UTME AL-HIKMAH UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm is considering the use of a new technology that will increase its production by 20%. The firm's current production is 100 units, and the new technology will cost ₦100,000. What is the break-even point for the new technology?
A. 50 units
B. 75 units
C. 100 units
D. 125 units
Question 2
A company has a share capital of ₦1,000,000, divided into 100,000 ordinary shares of ₦10 each. If the company issues 50,000 shares, what is the amount of share capital subscribed?
A. ₦500,000
B. ₦750,000
C. ₦1,000,000
D. ₦1,500,000
Question 3
A firm's marketing strategy involves the use of a combination of promotional tools to create awareness and generate interest in its products. Which of the following is NOT a characteristic of a marketing mix?
A. Product
B. Price
C. Promotion
D. Place
Question 4
A sole trader's business is not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The sole trader is exempt from paying taxes.
B. The sole trader is not liable for any business debts.
C. The sole trader's business is not recognized by law.
D. The sole trader is not required to keep business records.
Question 5
A marketing manager is responsible for developing a marketing plan for a new product launch. Which of the following is a key element of the marketing mix?
A. Product life cycle
B. Product positioning
C. Packaging
D. Product development
Question 6
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 new inventory level?
A. 5,000
B. 10,000
C. 15,000
D. 20,000
Question 7
A firm's revenue is ₦100,000 and its cost of goods sold is ₦80,000. What is the gross profit?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Question 8
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 total amount of share capital raised?
A. ₦200,000
B. ₦400,000
C. ₦600,000
D. ₦800,000
Question 9
In a sole trade business, what is the primary advantage of using a sole proprietorship structure?
A. Limited liability
B. Tax benefits
C. Easy setup and management
D. Flexibility in decision-making
Question 10
A firm's marketing strategy involves the use of a combination of promotional tools to create awareness and generate interest in its products. Which of the following is a characteristic of a marketing mix?
A. Product
B. Price
C. Promotion
D. Place
Question 11
A firm's cost function is given by C = 2Q^2 + 5Q - 10, where C is the cost and Q is the quantity produced. If the firm produces 3 units, what is its cost?
A. 10
B. 15
C. 20
D. 25
Question 12
A firm is considering the production of two goods, X and Y. The production function for good X is given by Qx = 2L + 3K, where L is labor and K is capital. The production function for good Y is given by Qy = 4L + 2K. If the firm has 10 units of labor and 5 units of capital, what is the opportunity cost of producing one more unit of good X?
A. 1 unit of good Y
B. 2 units of good Y
C. 3 units of good Y
D. 4 units of good Y
Question 13
A firm's revenue function is given by R = 2Q^2 - 5Q + 10, where R is the revenue and Q is the quantity produced. If the firm produces 5 units, what is its revenue?
A. 20
B. 25
C. 30
D. 35
Question 14
A firm's marketing strategy involves the use of a combination of promotional tools to create awareness and generate interest in its products. Which of the following is NOT a characteristic of a marketing mix?
A. Product
B. Price
C. Promotion
D. Place
Question 15
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is NOT a characteristic of a successful marketing strategy?
A. It must be consistent with the company's overall business objectives.
B. It must be tailored to the specific needs of the target market.
C. It must be implemented without any budget allocation.
D. It must be evaluated regularly to ensure its effectiveness.

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