POST UTME COVENANT UNIVERSITY 2025 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's articles of association can be amended by a
A. Simple majority vote
B. Special resolution
C. Ordinary resolution
D. Two-thirds majority vote
Question 2
A company's memorandum of association is a document that
A. Sets out the company's objectives
B. Provides details of the company's shareholders
C. Specifies the company's name and registered office
D. Contains the company's articles of association
Question 3
In a perfectly competitive market, the supply curve is typically represented by the marginal cost curve. What is the implication of this relationship on the firm's production decision?
A. The firm will produce at the minimum point of the average total cost curve.
B. The firm will produce at the point where the marginal revenue equals the marginal cost.
C. The firm will produce at the point where the average revenue equals the average cost.
D. The firm will produce at the point where the marginal revenue equals the average cost.
Question 4
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. What is the expected revenue from the first 100 customers if the original price of each product is ₦500?
A. ₦40,000
B. ₦45,000
C. ₦50,000
D. ₦55,000
Question 5
A firm's revenue is calculated by multiplying the price per unit of a product by the number of units sold. If a firm sells 100 units of a product at ₦50 per unit, what is its total revenue?
A. ₦4000
B. ₦5000
C. ₦6000
D. ₦7000
Question 6
A firm's cost function is given by C = 100 + 2Q, where C is the cost and Q is the quantity produced. If the firm produces 50 units, what is its cost?
A. ₦150
B. ₦250
C. ₦350
D. ₦450
Question 7
A company's sole trader has a warehouse with a capacity to store 5000 units of goods. The company uses the First-In-First-Out (FIFO) inventory method. If the warehouse is currently 75% full, and 1500 units of goods are received, what is the new percentage of the warehouse's capacity that is occupied?
A. 62.5%
B. 65%
C. 67.5%
D. 70%
Question 8
A company has a 10% dividend yield on its shares. If the current market price of the shares is ₦100, what is the expected dividend per share?
A. ₦10
B. ₦9
C. ₦8
D. ₦7
Question 9
A company's supply chain is designed to minimize transportation costs. Which of the following is a key principle of supply chain design?
A. Just-in-time (JIT) inventory management
B. Economies of scale in transportation
C. Reducing transportation costs
D. Minimizing storage costs
Question 10
A company has a sole trader business structure. What is the primary disadvantage of this structure?
A. Limited liability
B. Easy to set up
C. Flexibility in decision-making
D. Unlimited personal liability
Question 11
A sole trader is considering forming a partnership with another business owner. Which of the following is a key advantage of forming a partnership?
A. Increased financial resources
B. Improved management skills
C. Enhanced reputation
D. Reduced personal liability
Question 12
A company has a sole trader business structure. What is the primary advantage of this structure?
A. Limited liability
B. Easy to set up
C. Flexibility in decision-making
D. No tax benefits
Question 13
A sole trader's business is considered a
A. Limited liability company
B. Partnership
C. Sole proprietorship
D. Public limited company
Question 14
A company's revenue function is given by R = 100Q - 2Q^2, where R is the revenue and Q is the quantity sold. If the company sells 100 units, what is its revenue?
A. ₦8000
B. ₦9000
C. ₦10000
D. ₦11000
Question 15
A company's sole trader is considering expanding its operations to include foreign trade. Which of the following is a key advantage of foreign trade?
A. Increased competition
B. Access to new markets and resources
C. Reduced transportation costs
D. Improved product quality

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: