POST UTME CRAWFORD UNIVERSITY 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's articles of association state that the company's shares are to be divided into two classes: ordinary and preference. The ordinary shares have a par value of ₦10 each, while the preference shares have a par value of ₦20 each. If the company issues 1,000 ordinary shares and 500 preference shares, what is the total par value of the issued shares?
A. ₦30,000
B. ₦35,000
C. ₦40,000
D. ₦45,000
Question 2
A sole trader's business is considered a separate legal entity from its owner. However, in the event of the owner's death, the business is automatically wound up. Which of the following is a correct statement regarding the sole trader's business?
A. The business is dissolved and its assets are distributed among the creditors.
B. The business is transferred to the deceased's spouse.
C. The business is continued by the deceased's heirs.
D. The business is sold to a third party.
Question 3
A firm's revenue function is given by R = 100Q - 2Q^2. If the firm's output is 6 units, what is the firm's revenue?
A. ₦480
B. ₦520
C. ₦560
D. ₦600
Question 4
A company has a warehouse with a capacity of 10,000 units. The company receives a shipment of 5,000 units and already has 3,000 units in stock. What is the total capacity of the warehouse?
A. 8,000
B. 10,000
C. 12,000
D. 15,000
Question 5
A company has a portfolio of stocks with a mean return of 8% and a standard deviation of 12%. If the company wants to reduce its risk by 20%, what is the new standard deviation of the portfolio?
A. 6%
B. 8%
C. 10%
D. 12%
Question 6
A company's financial statements can be used to evaluate its?
A. Financial Performance
B. Market Value
C. Return on Investment
D. Break-Even Point
Question 7
A consumer purchases a product with a price of ₦2000. If the consumer pays a 10% sales tax, what is the total amount paid?
A. ₦2200
B. ₦2400
C. ₦2600
D. ₦2800
Question 8
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 commodity in such a market?
A. ₦1000 and 100 units
B. ₦500 and 200 units
C. ₦2000 and 50 units
D. ₦1500 and 75 units
Question 9
A firm's marginal revenue function is given by MR = 100 - 4Q. If the firm's output is 8 units, what is the firm's marginal revenue?
A. ₦60
B. ₦80
C. ₦100
D. ₦120
Question 10
A firm exports goods worth ₦1,000,000 to a foreign country. If the exchange rate is 1 USD = ₦500, what is the value of the exports in USD?
A. ₦2,000,000
B. ₦1,500,000
C. ₦1,000,000
D. ₦500,000
Question 11
A company is considering two different warehouse locations: Location A and Location B. Location A is 10 km away from the factory and Location B is 15 km away from the factory. If the company wants to minimize its transportation costs, which location should it choose?
A. Location A
B. Location B
C. Both locations are equally far
D. Neither location is far
Question 12
In a perfectly competitive market, the supply curve is typically represented by the?
A. Demand Curve
B. Supply Curve
C. Equilibrium Price
D. Market Equilibrium
Question 13
A company is considering two different marketing strategies: Strategy A and Strategy B. Strategy A involves a one-time investment of ₦100,000 and generates a revenue of ₦150,000 per year. Strategy B involves a one-time investment of ₦200,000 and generates a revenue of ₦250,000 per year. If the company wants to maximize its revenue, which strategy should it choose?
A. Strategy A
B. Strategy B
C. Both strategies are equally profitable
D. Neither strategy is profitable
Question 14
A firm's revenue function is given by R(x) = 2x^2 + 5x - 3, where x is the number of units sold. If the firm wants to maximize its revenue, what is the critical point of the function?
A. (-5/4, 0)
B. (1/2, 0)
C. (5/4, 0)
D. (1, 0)
Question 15
A firm's consumer protection policy includes a 30-day money-back guarantee. This is an example of:
A. Product liability
B. Consumer protection
C. Warranty
D. Return policy

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