POST UTME WELLSPRING UNIVERSITY 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A business owner wants to insure his store against theft. Which type of insurance policy would be most suitable?
A. Fire insurance
B. Theft insurance
C. Liability insurance
D. Business interruption insurance
Question 2
A firm's financial statements show a significant increase in revenue but a decrease in profit. What could be the reason for this discrepancy?
A. Increased operating expenses
B. Higher interest rates
C. Depreciation of assets
D. Taxation
Question 3
A firm's revenue function is given by R(x) = 100x - 2x^2. Find the marginal revenue function.
A. ( R'(x) = 100 - 4x )
B. ( R'(x) = 100 + 4x )
C. ( R'(x) = 100 - 2x )
D. ( R'(x) = 100 + 2x )
Question 4
A company has a capital of ₦500,000. If it issues 5,000 shares of ₦100 each, what is the company's capital after issuing the shares?
A. ₦1,000,000
B. ₦500,000
C. ₦750,000
D. ₦250,000
Question 5
A company's marketing strategy involves a 20% discount on all products. If a customer buys a product worth ₦10,000, how much will they pay after the discount?
A. ₦8,000
B. ₦9,000
C. ₦10,000
D. ₦12,000
Question 6
A firm's demand function is given by Q = 100 - 2P. If the price of the good is increased by 20%, what is the resulting change in quantity demanded?
A. -10%
B. -20%
C. -30%
D. -40%
Question 7
A company is considering investing in a new project. What is the primary consideration for the company's management?
A. Return on investment
B. Break-even analysis
C. Cash flow projections
D. Risk assessment
Question 8
A firm's demand function is given by Q = 100 - 2P. If the firm's price is 20, what is the firm's quantity demanded?
A. 40
B. 50
C. 60
D. 70
Question 9
A firm's production function is given by Q = 2L^0.5 + 3K^0.5. If the firm's labor and capital inputs are 4 and 9 respectively, what is the firm's output?
A. 10
B. 12
C. 15
D. 20
Question 10
A company's sole trader has a business bank account with a balance of ₦125,000. If the company pays ₦25,000 as rent and ₦15,000 as utility bills, what is the new balance in the account?
A. ₦85,000
B. ₦90,000
C. ₦95,000
D. ₦100,000
Question 11
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current output is 16 units and the number of workers is 4, how many units of capital are required?
A. 4 units
B. 8 units
C. 16 units
D. 32 units
Question 12
A company's production function is given by Q = 3L^0.7K^0.3. If the firm's current output is 27 units and the number of workers is 9, how many units of capital are required?
A. 6 units
B. 12 units
C. 18 units
D. 24 units
Question 13
A company has a warehouse with a capacity of 10,000 units. If the current stock level is 8,000 units and the daily demand is 200 units, what is the reorder point?
A. 6,000 units
B. 7,000 units
C. 8,000 units
D. 9,000 units
Question 14
A firm's marketing mix involves a product with a unique selling proposition (USP). Which of the following is a characteristic of a USP?
A. It is a product feature that is unique to the firm
B. It is a product feature that is common to all firms
C. It is a product feature that is not unique to the firm
D. It is a product feature that is not relevant to the firm
Question 15
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost. What is the opportunity cost of producing a good?
A. The value of the good in terms of other goods
B. The time it takes to produce the good
C. The cost of producing the good
D. The quantity of the good produced

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