POST UTME JOSEPH AYO BABALOLA UNIVERSITY 2021 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's profit function is given by π = R - C. If the firm's revenue and cost functions are given by R = 100Q - 2Q^2 and C = 50 + 10L + 5K respectively, what is the effect of an increase in output on profit?
Question 2
A company's articles of association state that the company's shares can be transferred only with the consent of the board of directors. What type of share is this?
Question 3
A company has a share capital of ₦500,000 divided into 5,000 shares of ₦100 each. If the company issues 2,000 shares at a premium of ₦20 per share, what is the total amount received from the issue of shares?
Question 4
A firm uses a combination of road, rail, and air transport to move its goods. What is the main advantage of this type of transport?
Question 5
A company has a warehouse with a capacity of 10,000 units. The company receives a shipment of 5,000 units and already has 3,000 units in stock. If the company wants to maintain a safety stock of 20% of the total capacity, how many units can the company store in the warehouse?
Question 6
A company has a warehouse with a capacity of 10,000 units. The company receives an order for 8,000 units. If the warehouse is currently 70% full, what is the probability that the company will be able to fulfill the order without running out of stock?
Question 7
A bank has a loan of ₦10,000,000 at an interest rate of 12% per annum. If the loan is compounded annually, what is the amount after 5 years?
Question 8
A firm has a production cost of ₦1,500 per unit and a selling price of ₦2,500 per unit. If the firm produces 5,000 units, what is the profit?
Question 9
A warehouse has a storage capacity of 10,000 units. If 8,000 units are already stored, what is the maximum number of units that can be added?
Question 10
A firm's cost function is given by C = 50 + 10L + 5K. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in total cost?
Question 11
A business owner purchases insurance to protect against losses due to fire. What type of insurance is this?
Question 12
A firm uses a combination of advertising and sales promotion to market its products. What is the main advantage of this type of marketing?
Question 13
A sole trader's business is registered under the Companies and Allied Matters Act 2020. What is the primary advantage of this registration?
Question 14
A firm is considering two different insurance policies to cover its business risks. Policy A has a premium of ₦50,000 and a deductible of ₦20,000. Policy B has a premium of ₦30,000 and a deductible of ₦10,000. If the firm expects to incur a loss of ₦100,000, what is the minimum premium that the firm needs to pay to cover the loss?
Question 15
A firm specializes in producing only one good. This specialization is an example of which of the following?
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