POST UTME SKYLINE UNIVERSITY 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's sole trader has a business income of ₦1,500,000 and expenses of ₦800,000. What is the profit before tax?
A. ₦700,000
B. ₦600,000
C. ₦800,000
D. ₦1,000,000
Question 2
A consumer purchases a product with a price of ₦1,000. If the consumer pays a 10% sales tax, what is the total amount paid?
A. ₦1,100
B. ₦1,050
C. ₦1,000
D. ₦950
Question 3
A sole trader is considering expanding their business by hiring employees. Which of the following is a key advantage of hiring employees?
A. Increased flexibility
B. Increased productivity
C. Increased financial risk
D. Increased tax liability
Question 4
A company produces 500 units of a product per day. If the company operates 7 days a week, what is the total number of units produced in a week?
A. 3,500
B. 4,000
C. 4,500
D. 5,000
Question 5
A company has a warehouse with a capacity of 10,000 units. The company receives a shipment of 8,000 units and wants to store them in the warehouse. If the warehouse is currently 70% full, what is the maximum number of units that can be added to the warehouse?
A. 1,000
B. 2,000
C. 3,000
D. 4,000
Question 6
A company's marketing strategy involves creating a viral video campaign. What is the primary goal of this campaign?
A. To increase brand awareness
B. To generate leads
C. To drive sales
D. To build customer loyalty
Question 7
A firm imports goods worth ₦2,000,000. If the firm pays a 10% customs duty, what is the total amount paid?
A. ₦2,200,000
B. ₦2,100,000
C. ₦2,000,000
D. ₦1,900,000
Question 8
A company has two warehouses, A and B, with capacities of 10,000 units and 5,000 units, respectively. Warehouse A has a storage cost of ₦5 per unit, while Warehouse B has a storage cost of ₦10 per unit. If the company has 15,000 units to store, how much will it save by storing 5,000 units in Warehouse A and 10,000 units in Warehouse B?
A. ₦25,000
B. ₦50,000
C. ₦75,000
D. ₦100,000
Question 9
A life insurance policy has a premium of ₦100,000 per annum. The policy pays a benefit of ₦5 million in the event of the policyholder's death. What is the probability that the policyholder will die within the next 10 years?
A. 0.05
B. 0.10
C. 0.15
D. 0.20
Question 10
A company is considering investing in a new project. The project has a high potential return but also comes with a high level of risk. Which of the following risk management strategies would be most appropriate for this project?
A. Diversification
B. Hedging
C. Risk avoidance
D. Risk taking
Question 11
A company has a market share of 30% and a price elasticity of demand of 2. If the company increases its price by 10%, what will be the percentage change in quantity demanded?
A. -20%
B. -15%
C. -10%
D. -5%
Question 12
A consumer purchases a product with a price of ₦1,500. If the consumer pays a 5% sales tax, what is the total amount paid?
A. ₦1,575
B. ₦1,600
C. ₦1,625
D. ₦1,650
Question 13
A company issues a prospectus to raise capital. What is the primary responsibility of the company's directors in this context?
A. To ensure the prospectus is accurate and complete
B. To obtain approval from the regulatory authority
C. To disclose all material information
D. To minimize the risk of liability
Question 14
A firm has a cost function given by C = 2L + 3K. If L = 10 and K = 5, what is the cost?
A. 20
B. 30
C. 40
D. 50
Question 15
A company is considering exporting its products to a foreign market. Which of the following is a key consideration when determining the export price?
A. Production costs
B. Transportation costs
C. Tariffs and taxes
D. Exchange rates

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: