POST UTME UNIPORT 2022 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A firm is considering two different business law options for its new product. Option A involves a high upfront cost of ₦200,000 but a low ongoing cost of ₦10,000 per year, while Option B involves a low upfront cost of ₦50,000 but a high ongoing cost of ₦20,000 per year. If the firm expects to sell 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each option, assuming a 20% tax rate?
Question 2
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant at 100 units, how much should it increase capital?
Question 3
A bank's reserve requirement is 10%. If the bank has a cash reserve of ₦100,000, what is the maximum amount of loans it can make?
Question 4
A company is considering two different production methods for its new product. Method A involves a high initial investment but low ongoing costs, while Method B involves a low initial investment but high ongoing costs. If the company expects to produce 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each method, assuming a 20% tax rate?
Question 5
A country's import bill is ₦1,500,000,000. If the exchange rate is 1 USD = 400 NGN, what is the import bill in USD?
Question 6
A company has a profit of ₦500,000. If it pays a tax of 20% on its profit, how much is the tax liability?
Question 7
A sole trader's business is not required to _______________ its accounts to the public.
Question 8
A firm is considering two different warehousing options for its new product. Option A involves a high upfront cost of ₦200,000 but a low ongoing cost of ₦10,000 per year, while Option B involves a low upfront cost of ₦50,000 but a high ongoing cost of ₦20,000 per year. If the firm expects to store 10,000 units per year for 5 years, and the cost of each unit is ₦50, what is the total cost of each option, assuming a 20% tax rate?
Question 9
A company's articles of association may provide for the _______________ of the company's shares.
Question 10
A firm's supply chain involves the movement of goods from raw materials to end customers. Which of the following is a type of supply chain risk?
Question 11
A warehouse has a storage capacity of 10,000 units. If 8,000 units are already stored, what is the remaining capacity?
Question 12
A sole trader's business is registered under the _______________ Act, which provides for the registration of sole traders and their businesses.
Question 13
In the context of consumer protection, what is the primary purpose of the Consumer Protection Act of 1999?
Question 14
A company's business units are organized into a matrix structure. The company's marketing department has a budget of ₦1,000,000 and wants to allocate it among three projects: Project A, Project B, and Project C. If the company uses the zero-sum game theory to allocate the budget, what is the value of the budget allocated to Project A?
Question 15
A firm's foreign trade involves importing goods from a country with a currency that is not the firm's local currency. The firm uses a forward exchange contract to hedge against exchange rate risk. If the exchange rate is 1 USD = 500 NGN and the firm expects the exchange rate to appreciate to 1 USD = 600 NGN in the future, what is the value of the forward contract?
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