POST UTME SKYLINE UNIVERSITY 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's break-even point is the point at which its total revenue equals its total
A. fixed costs
B. variable costs
C. total costs
D. net income
Question 2
A company's cost function is given by C(x) = 2x^2 + 5x, where x is the number of units produced. If the company produces 10 units, what is the total cost?
A. ₦150
B. ₦200
C. ₦250
D. ₦300
Question 3
A company's articles of association may provide for the appointment of a managing director. What is the primary responsibility of the managing director?
A. To manage the company's day-to-day operations
B. To oversee the company's financial affairs
C. To represent the company in legal matters
D. To make strategic decisions for the company
Question 4
A company is considering two different marketing strategies: a high-low strategy and a penetration pricing strategy. Which strategy is more likely to increase market share in the short run?
A. High-low strategy
B. Penetration pricing strategy
C. Both strategies are equally effective
D. Neither strategy is effective
Question 5
A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦1,000,000, how much cash must it reserve?
A. ₦200,000
B. ₦250,000
C. ₦300,000
D. ₦350,000
Question 6
A company's production function is given by Q = 2L^2 + 5K, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company uses 10 units of labor and 5 units of capital, what is the quantity produced?
A. 50
B. 60
C. 70
D. 80
Question 7
A consumer protection agency has been established to regulate the activities of businesses in a particular industry. Which of the following is a key responsibility of this agency?
A. To ensure that businesses comply with all relevant laws and regulations
B. To provide training and education to consumers on how to make informed purchasing decisions
C. To investigate and prosecute businesses that engage in unfair or deceptive practices
D. To promote competition among businesses in the industry
Question 8
A company's marketing mix involves the use of four Ps: product, price, promotion, and
A. place
B. people
C. process
D. physical distribution
Question 9
A firm's revenue function is given by R(x) = 2x^2 + 5x, where x is the number of units sold. If the firm sells 10 units, what is the total revenue?
A. ₦150
B. ₦200
C. ₦250
D. ₦300
Question 10
A warehouse's inventory turnover ratio is the number of times its inventory is sold and replaced
A. per year
B. per quarter
C. per month
D. per week
Question 11
A consumer protection law requires businesses to provide accurate information about their products. This is an example of
A. product liability
B. consumer rights
C. false advertising
D. product safety
Question 12
A sole trader is a type of business ownership where one person owns and operates the business. This type of business is suitable for
A. small businesses
B. large corporations
C. partnerships
D. limited companies
Question 13
A company's insurance policy has a deductible of ₦5,000. If the company pays ₦10,000 in claims, how much will the insurance company pay?
A. ₦5,000
B. ₦7,500
C. ₦10,000
D. ₦12,500
Question 14
A company's marketing strategy involves a 10% discount on all products for the first 100 customers. If the original price of each product is ₦1,500, how much will each customer pay?
A. ₦1,350
B. ₦1,400
C. ₦1,450
D. ₦1,500
Question 15
A company is considering using a new transportation mode to deliver its products. Which of the following is a key consideration in the decision?
A. The cost of transportation
B. The speed of transportation
C. The reliability of transportation
D. The environmental impact of transportation

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