Question 756:

• JAMB 1985

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

A. 6 months
B. 9 mnths
C. 2 years
D. 5 years
E. 10 or more years

Question 757:

• JAMB 1985

A firm is said to be a public Joint Stock Company when it?

A. Is owned by the government
B. Is operated as a public corporation
C. Is operated in a non-democratic fashion
D. Sells shares to members of the public and publishes its account
E. Is a limited liability company

Question 758:

• JAMB 1985

Limited liability means?

A. The debts of a company can only be paid from its own assets
B. The debts of a company are paid from business as well as private funds of the owners
C. Government cannot tax the company
D. The debts of a company must be paid from private funds only
E. The company does not have to pay its debts

Question 759:

• JAMB 1985

The purchasing power of the naira will fall when?

A. The naira is devalued
B. Government cuts all salaries and wages
C. There is inflation
D. The colour of the naira is changed
E. Workers are retrenched

Question 760:

• JAMB 1985

When a business has unlimited liability

A. All its profits can be taxed away by the government
B. All its assets are owned by the members of its board of directors
C. The business ceases to exist at the death of one of its owners
D. The owners are responsible for all its financial debts
E. The owners are not responsible for all its financial debts