POST UTME ELIZADE UNIVERSITY 2019 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company's marketing strategy involves creating a new product line. Which of the following is a characteristic of this strategy?
Question 2
A company's warehouse is experiencing stockouts due to inadequate inventory management. Which of the following is a key cause of stockouts?
Question 3
A financial institution's ability to manage risk is known as _______ management.
Question 4
A firm's marketing strategy involves using social media platforms to reach its target audience. What type of marketing is this firm employing?
Question 5
A firm's cost function is given by the equation C(x) = 100 + 2x^2, where x is the number of units produced. What is the marginal cost when x = 5?
Question 6
A firm specializes in producing a single product, which is a combination of two inputs, labor and capital. The production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the amount of labor, and K is the amount of capital. If the firm wants to produce 16 units of the product, and the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, what is the minimum cost of production?
Question 7
A company purchases a machine for ₦1,500,000 and depreciates it using the straight-line method over a 5-year period. What is the annual depreciation expense?
Question 8
In a sole trade business, the owner's personal and business finances are not separated. What is the primary advantage of this arrangement?
Question 9
A firm's insurance policy covers losses due to natural disasters. What type of insurance is this firm purchasing?
Question 10
The Consumer Protection Act of 1999 provides that a consumer has the right to _______ a defective product.
Question 11
A financial institution's ability to generate profits through the sale of financial products is known as _______ income.
Question 12
A consumer protection agency is responsible for enforcing consumer rights. Which of the following is a right that consumers have?
Question 13
A company's insurance policy has a deductible of ₦50,000 and a maximum payout of ₦200,000. If the company suffers a loss of ₦300,000, what is the insurance company's liability?
Question 14
A firm is considering two different warehousing strategies for its products. Strategy A involves a high level of inventory turnover, while Strategy B involves a low level of inventory turnover. The firm's logistics manager estimates that Strategy A will result in a 20% increase in costs, while Strategy B will result in a 10% increase in costs. However, Strategy A will also result in a 5% increase in sales, while Strategy B will result in a 2% increase in sales. What is the net benefit of Strategy A compared to Strategy B?
Question 15
A company has the following income statement: Revenue = ₦200m, Cost of Goods Sold = ₦150m, Operating Expenses = ₦20m. What is the company's net income?
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