POST UTME VERITAS UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's current inputs are L = 4 and K = 9, what is the marginal product of labor?
A. 1
B. 2
C. 3
D. 4
Question 2
A company's articles of association can be amended by a majority vote of the shareholders at a general meeting. Which of the following is a correct statement?
A. The articles of association can only be amended by a special resolution
B. The articles of association can be amended by a simple majority vote
C. The articles of association can only be amended by a two-thirds majority vote
D. The articles of association can be amended by a unanimous vote
Question 3
A country's trade balance is given by TB = X - M, where X is the value of exports and M is the value of imports. If the country's current trade balance is TB = 100 and the value of imports is M = 150, what is the value of exports?
A. 200
B. 250
C. 300
D. 350
Question 4
A consumer has a budget constraint of 100, and the prices of two goods are 5 and 10, respectively. If the consumer's indifference curve is tangent to the budget line, what is the consumer's optimal consumption bundle?
A. (10, 10)
B. (20, 5)
C. (15, 7.5)
D. (5, 20)
Question 5
A sole trader operates a business from a rented shop. The sole trader's business is not registered with the Corporate Affairs Commission. Which of the following is the sole trader's legal obligation?
A. To register the business with the Corporate Affairs Commission
B. To obtain a business license from the local government
C. To pay taxes on the business income
D. To maintain accurate financial records
Question 6
A consumer protection law requires that a product label must include the following information?
A. The product's ingredients and nutritional content
B. The product's price and packaging information
C. The product's manufacturer and expiration date
D. All of the above
Question 7
A bank offers a credit card with an interest rate of 18% per annum. If the customer's outstanding balance is ₦20,000 and the interest is compounded monthly, what is the total amount the customer will owe after 6 months?
A. ₦24,919.19
B. ₦25,000.00
C. ₦25,119.19
D. ₦25,200.00
Question 8
A firm's cost function is given by C = 2L + 3K. If the firm's current inputs are L = 4 and K = 9, what is the total cost?
A. 20
B. 30
C. 40
D. 50
Question 9
A firm's supply curve is upward-sloping because as the price of its product increases, it becomes more
A. profitable
B. expensive
C. difficult to produce
D. attractive
Question 10
A company is considering investing in a new project with an initial investment of ₦1,000,000 and expected annual cash flows of ₦500,000 for 5 years. What is the net present value (NPV) of the project, assuming a discount rate of 10%?
A. ₦1,250,000
B. ₦1,500,000
C. ₦1,750,000
D. ₦2,000,000
Question 11
A company issues 1,000 shares of stock at a price of ₦100 per share. If the company receives ₦120,000 from the sale of the shares, what is the company's total revenue?
A. ₦120,000
B. ₦125,000
C. ₦130,000
D. ₦135,000
Question 12
A company uses a just-in-time inventory system. If the company orders 100 units of a product and the lead time is 5 days, what is the reorder point?
A. 95 units
B. 100 units
C. 105 units
D. 110 units
Question 13
A firm's cost of capital is the minimum return required by investors for a given level of risk. What is the primary factor that affects a firm's cost of capital?
A. The firm's size and market share
B. The firm's financial leverage and debt-to-equity ratio
C. The firm's industry and market conditions
D. The firm's management team and corporate governance
Question 14
A perfectly competitive market is characterized by a large number of firms producing a homogeneous product, free entry and exit, and
A. a single buyer
B. a single seller
C. free entry and exit
D. barriers to entry
Question 15
A bank's reserve requirement is set by the central bank at 10% of deposits. If a bank has 100,000 in deposits, how much must it hold in reserve?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000

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