POST UTME COVENANT UNIVERSITY 2023 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A sole trader has a business that generates an annual profit of ₦500,000. If the sole trader's tax rate is 25%, how much tax will the sole trader pay?
Question 2
A firm's revenue function is given by R = 100Q - 2Q^2, where Q is output. If the firm wants to maximize revenue, what is the optimal level of output?
Question 3
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant, how much should it increase capital?
Question 4
A company's marketing strategy involves a 20% discount on all products for the first 3 months of the year. If the original price of a product is ₦1,000, what is the new price after the discount?
Question 5
A sole trader has an annual turnover of ₦1,500,000 and an annual profit of ₦200,000. If the sole trader wants to increase its annual profit by 15% while keeping the annual turnover constant, what percentage increase in the annual turnover is required?
Question 6
A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company increases labor input from 100 to 121 units and capital input from 100 to 121 units, what is the percentage change in the quantity produced?
Question 7
A company is considering exporting its products to a foreign market. Which of the following is a major advantage of exporting?
Question 8
A company has a production function given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to increase its production by 20% while keeping labor input constant, what percentage increase in capital input is required?
Question 9
A firm is considering investing in a new marketing campaign to promote its product. The campaign will cost ₦10 million to implement and is expected to generate ₦20 million in revenue over the next 2 years. What is the payback period of the investment?
Question 10
A company has a debt of ₦1,000,000 and an equity of ₦2,000,000. What is the debt-to-equity ratio?
Question 11
A company has a marketing budget of ₦500,000 and wants to allocate it among three advertising channels: TV, Radio, and Print. If the company wants to allocate 30% of the budget to TV, 20% to Radio, and 50% to Print, what is the total number of units sold if the company sells 100 units for every ₦10,000 spent on advertising?
Question 12
A company has a production function given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to increase its production by 20% while keeping labor input constant, what percentage increase in capital input is required?
Question 13
A company is considering investing in a new business venture. Which of the following is a key consideration in the investment decision?
Question 14
A firm is considering investing in a new warehouse to increase its storage capacity. The warehouse will cost ₦50 million to build and will have a useful life of 10 years. The firm expects to use the warehouse for 5 years and then sell it for ₦20 million. What is the net present value of the investment?
Question 15
A firm's cost function is given by C(Q) = 100 + 2Q + 0.5Q^2, where Q is output. If the firm wants to minimize cost, what is the optimal level of output?
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