POST UTME NILE UNIVERSITY 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm's supply chain management involves the coordination of activities across the entire value chain. Which of the following is a correct example of supply chain management?
Question 2
A firm is considering the introduction of a new product. The product has a high fixed cost of ₦1,000,000 and a variable cost of ₦150 per unit. The selling price of the product is ₦250 per unit. If the firm expects to sell 8,000 units, what is the minimum price at which the firm must sell the product to break even?
Question 3
A company is considering two different modes of transportation to deliver its products: road and rail. The cost of transporting goods by road is ₦50 per kilometer, while the cost of transporting goods by rail is ₦30 per kilometer. If the company needs to transport goods for 200 kilometers, what will be the total cost of transportation by road and rail?
Question 4
A firm is considering exporting its products to a foreign market. What is the primary advantage of exporting?
Question 5
A company has a warehouse with a capacity of 10,000 units. If it receives a shipment of 5,000 units, what is the new storage capacity?
Question 6
The concept of comparative advantage in international trade is based on the idea that countries should specialize in producing goods for which they have a lower opportunity cost compared to other countries. Which of the following is a correct example of comparative advantage?
Question 7
A consumer purchases a product from a retailer for ₦10,000. The product is defective and the consumer returns it to the retailer, who offers a refund of ₦8,000. The consumer is also entitled to a compensation of ₦2,000 for the inconvenience caused. Calculate the total amount the consumer will receive.
Question 8
A firm's production function is given by Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the firm's labor and capital inputs are 16 and 9 respectively, what is the firm's output?
Question 9
A company has a production function of Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the company wants to increase its output by 50%, what is the required increase in labor and capital?
Question 10
A company's articles of association specify that the company's profits will be distributed among its shareholders in the ratio 3:2:1. If the company's total profit is ₦120,000, and there are three shareholders, calculate the amount each shareholder will receive.
Question 11
A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's revenue is 1,000 naira, what is the price elasticity of demand?
Question 12
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 will be wound up and the assets distributed according to the owner's will. This is an example of which type of business organization?
Question 13
A company has a risk management strategy that involves the use of insurance to mitigate potential losses. Which of the following is an example of a type of insurance that a company might use?
Question 14
A country's balance of payments account records all transactions between its residents and non-residents. Which of the following is a correct example of a balance of payments account?
Question 15
A company has a sole trader business structure. The company's accountant has prepared a balance sheet that shows the company's assets, liabilities, and equity. The balance sheet is as follows:
Assets: ₦100,000, Liabilities: ₦50,000, Equity: ₦50,000
What is the company's return on equity (ROE) for the year?
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