POST UTME RHEMA UNIVERSITY 2018 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company's profit is calculated as the difference between its revenue and cost. If the company's revenue is ₦1,500,000 and its cost is ₦1,200,000, what is the company's profit?
Question 2
A company's production function is given by Q = 2L^0.5K^0.5. If the company wants to produce 16 units of output, and the wage rate is 10 per hour, and the rental rate is 20 per unit of capital, what is the minimum cost of production?
Question 3
A company is considering outsourcing its logistics operations to a third-party provider. The company's transportation costs are currently ₦1,000,000 per month. The third-party provider has quoted a price of ₦900,000 per month for the same services. What is the potential cost savings for the company?
Question 4
A company is considering two different inventory management systems for its new product. System A involves a high upfront cost but low ongoing costs, while System B involves low upfront cost but high ongoing costs. If the company expects to sell 10,000 units in the first year and 20,000 units in the second year, which inventory management system should it choose if it wants to minimize its total costs?
Question 5
In a just-in-time (JIT) inventory system, what is the primary goal of the reorder point?
Question 6
A firm's marketing strategy involves a 20% discount on all products sold during a promotional period. If a customer buys a product that originally costs ₦5,000, how much will the customer pay, including the discount?
Question 7
A company is considering investing in a new project. The project's expected cash inflows are ₦1,000,000 in the first year, ₦1,200,000 in the second year, and ₦1,500,000 in the third year. The company's cost of capital is 10%. What is the present value of the project's expected cash inflows?
Question 8
A firm is considering two different modes of transportation: trucking and rail. The cost of trucking is 100 per ton, and the cost of rail is 80 per ton. If the firm wants to transport 1000 tons of goods, and the demand for the goods is perfectly inelastic, what is the minimum cost of transportation?
Question 9
In the context of home and foreign trade, what is the primary function of the Balance of Payments (BOP) account?
Question 10
A firm's marketing strategy involves a 15% discount on all products sold during a promotional period. If a customer buys a product that originally costs ₦8,000, how much will the customer pay, including the discount?
Question 11
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's annual salary is ₦1,200,000, what is the total amount the employee will receive at the end of the year, including the bonus?
Question 12
A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦100 million, how much cash must it reserve?
Question 13
A business is considering exporting its products to a foreign market. What is the primary advantage of exporting?
Question 14
A company uses a communication channel that involves the use of a website to communicate with customers. What type of communication channel is this?
Question 15
A firm's production function is given by Q = 2L^0.5K^0.5, where L is labor and K is capital. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's objective is to maximize profit, what is the optimal level of labor?
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