Jamb Commerce 1995 Past Questions and Answers

Question 31:

• JAMB 1995

Construction activities include the building of houses and roads as well as

A. Brick laying
B. Shoe making
C. Black smithing
D. Car assembling

Question 32:

• JAMB 1995

If a partnership deed is silent on how profits are to be shared, partners share profits

A. In the ratio of the value of business secured by each partner for the partnership
B. In the ratio of partner capital contributions
C. In an equal proportion irrespective of partners's capital contributons
D. According to duties performed by each partner

Question 33:

• JAMB 1995

Which of the following information is contained in the Articles of Association of a limited liability company?

A. Rights and obligations of directors
B. Objectives of the company
C. Amount of share capital
D. Limitation of liability of shareholders.

Question 34:

• JAMB 1995

The merger of two companies producing the same type of products is an example of

A. Vertical integration
B. Horizontal integration
C. Lateral merger
D. An acquisition

Question 35:

• JAMB 1995

One of the implications of the incorporation of a company is that

A. It is more difficult for the company to raise loans
B. The company can sue but cannot be sued
C. The company's property becomes distinguished from that of its members
D. Its members become liable for all the debts of the company