Jamb Commerce 1994 Past Questions and Answers

Question 56:

• JAMB 1994

Which of the following takes place when firms producing at different stages in the same industry combine?

A. Conglomeration
B. Vertical integration
C. Horizontal integration
D. Cartel

Question 57:

• JAMB 1994

Which of the following groups is paid first when a firm liquidates?

A. Preference shareholders
B. Debenture holders
C. Ordinary shareholders
D. Cumulative preference shareholders

Question 58:

• JAMB 1994

Compulsory dissolution of a business can arise from

A. An agreement by the owners
B. A declaration by a court of law
C. The termination of its life
D. An unfavourable economic climtate

Question 59:

• JAMB 1994

What are fixtures and fittings in a balance sheet?

A. Liquid capital
B. Current assets
C. Fixed assets
D. Working capital

Question 60:

• JAMB 1994

Governments impose import duties for the following reasons EXCEPT

A. To raise revenue for other services
B. To act as a retaliatory measure against other governments
C. To discourage the redistribution of income at home
D. To protect home industries from external competition