POST UTME CHRISTOPHER UNIVERSITY 2017 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company uses a just-in-time inventory system to manage its stock levels. What is the primary advantage of this system?
Question 2
A firm's production function is given by Q = 2L^0.5K^0.5. What is the marginal product of labor (MPL) when L = 4 and K = 9?
Question 3
A sole trader's business is registered with the Corporate Affairs Commission (CAC) as a sole proprietorship. What is the primary advantage of this business structure?
Question 4
A company's marketing strategy involves a 20% increase in advertising expenditure and a 15% decrease in sales promotion expenditure. What is the resulting percentage change in the company's total marketing expenditure?
Question 5
A consumer has the following indifference curve: U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are 2 and 3 respectively, and the consumer's income is 12, what is the optimal bundle of goods that the consumer will purchase?
Question 6
A firm's cost function is given by C(q) = 2q^2 + 10q + 100. What is the marginal cost when q = 5?
Question 7
A bank's liquidity ratio is calculated as the ratio of liquid assets to total deposits. If a bank has liquid assets worth ₦1,500,000 and total deposits of ₦2,500,000, what is the bank's liquidity ratio?
Question 8
A firm specializes in producing a single product, which is a combination of two inputs, labour and capital. If the production function is given by Q = 2L^(1/2)K^(1/2), where Q is the quantity produced, L is the units of labour, and K is the units of capital, what is the marginal product of labour (MPL) when L = 16 and K = 9?
Question 9
A company's financial year runs from January 1st to December 31st. If the company's financial statements are prepared on a cash basis, what is the accounting period?
Question 10
A firm's demand curve is given by Q = 100 - 2P. What is the firm's elasticity of demand when P = 20?
Question 11
A company's financial statement shows a net income of ₦1,200,000 and a total equity of ₦3,500,000. What is the company's return on equity (ROE)?
Question 12
A consumer's indifference curve is downward sloping and convex to the origin. What is the implication of this shape on the consumer's willingness to substitute one good for another?
Question 13
A company has a total of ₦1,000,000 in its total assets, which consists of ₦500,000 in cash and ₦500,000 in accounts receivable. What is the company's accounts payable?
Question 14
A company's marketing strategy involves a mix of advertising, sales promotions, and public relations. Which of the following is NOT a characteristic of a successful marketing strategy?
Question 15
In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the equilibrium price and quantity of a product in such a market?
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