POST UTME ACHIEVERS UNIVERSITY 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The Consumer Protection Act of 1999 provides for the establishment of the National Consumer Protection Agency. What is the primary function of this agency?
A. To investigate complaints from consumers
B. To regulate the activities of businesses
C. To provide education and awareness to consumers
D. To enforce consumer protection laws
Question 2
A company has a fleet of 10 trucks. The company wants to transport goods from Lagos to Abuja. The distance between Lagos and Abuja is 500 km. What is the total distance traveled by the trucks?
A. 5,000 km
B. 10,000 km
C. 15,000 km
D. 20,000 km
Question 3
A firm's revenue function is given by R = 100Q - 2Q^2, where R is revenue and Q is output. If the firm's output is increased by 20%, what is the percentage change in revenue?
A. 10%
B. 15%
C. 20%
D. 25%
Question 4
A company is considering investing in a new project that involves warehousing and stock control. The company's financial analysts have estimated the project's costs and benefits, but the company's management is concerned about the risks involved. Which of the following risk management techniques would be most relevant in assessing the project's risks?
A. Sensitivity Analysis
B. Break-Even Analysis
C. Decision Tree Analysis
D. Sensitivity Analysis and Decision Tree Analysis
Question 5
A consumer has purchased a product from a company, but the product has failed to meet the company's advertised standards. The consumer is seeking compensation for the product's failure. Which of the following legal principles would be most relevant in determining the consumer's entitlement to compensation?
A. Unfair Contract Terms Directive
B. Consumer Protection from Unfair Trading Regulations
C. Unfair Commercial Practices Directive
D. Consumer Rights Act
Question 6
A company's warehouse is designed to store a large quantity of goods. The warehouse has a rectangular shape with a length of 20 meters and a width of 15 meters. If the company wants to store goods in a single layer, what is the maximum number of pallets that can be stored in the warehouse?
A. 300
B. 400
C. 500
D. 600
Question 7
A warehouse has a capacity of 1000 units. The warehouse is currently 75% full. If 200 units are added to the warehouse, what percentage of the warehouse is now full?
A. 50%
B. 60%
C. 70%
D. 80%
Question 8
A firm's cost function is given by C = 2L + 3H, where C is the total cost, L is the number of laborers, and H is the number of machines. If the firm wants to minimize its cost while producing a quantity of 100 units, what is the optimal combination of laborers and machines?
A. L = 20, H = 10
B. L = 15, H = 20
C. L = 10, H = 25
D. L = 5, H = 30
Question 9
A company's profit is given by the equation P(x) = 3x^2 - 2x - 5, where x is the number of units sold. If the company sells 4 units, what is the total profit?
A. ₦15
B. ₦25
C. ₦35
D. ₦45
Question 10
A firm's break-even point is the point at which its total revenue equals its
A. Total Fixed Costs
B. Total Variable Costs
C. Total Costs
D. Total Revenue
Question 11
A company is considering investing in a new marketing campaign. Which of the following is a key consideration for the company?
A. The potential return on investment (ROI) of the campaign
B. The potential impact on the company's brand reputation
C. The potential impact on the company's sales revenue
D. The need to obtain additional funding
Question 12
A bank has a reserve requirement of 10%. If the bank has a deposit of ₦100,000, how much must it keep in reserve?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Question 13
A company's sole trader is considering expanding its operations to a new market. However, the company's financial statements show a high level of debt and a low cash reserve. Which of the following financial ratios would be most relevant in assessing the company's ability to expand?
A. Debt-to-Equity Ratio
B. Current Ratio
C. Return on Equity (ROE)
D. Interest Coverage Ratio
Question 14
A firm's cost function is given by C = 50L + 20K, where C is cost, L is labor, and K is capital. If the firm's labor and capital are increased by 15% and 10% respectively, what is the percentage change in cost?
A. 10%
B. 15%
C. 20%
D. 25%
Question 15
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is the quantity produced, L is the number of laborers, and H is the number of machines. If the firm wants to increase its production by 25% while keeping the number of laborers constant, what percentage increase in the number of machines is required?
A. 12.5%
B. 25%
C. 37.5%
D. 50%

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