Jamb Commerce 1997 Past Questions and Answers

Question 11:

• JAMB 1997

Use the conversion below to answer question 7 and 8
MUSA: Taiwo why are you in business?
TAIWO: To optimized profit, provide quality
product and discharge my social
responsibilities. What of you, Okon
and Kalu
OKON: I am in business to cater for the
need of the consumers at all costs.
KALU: I am in business to make profit,
provided quality product
at reasonable prices
and establish a good
reputation for myself.

A. Musa
B. Okon
C. Taiwo
D. Kalu

Question 12:

• JAMB 1997

The business with the best business objectives is

A. Okon
B. Taiwo
C. Kalu
D. Musa

Question 13:

• JAMB 1997

The business organization in which shareholder's have equal vote is

A. Sole pprietorship
B. Partneeship
C. Co-operative
D. Limited liability company

Question 14:

• JAMB 1997

The major objective of corporate mergers is to

A. Minimize the effects of taxation
B. Increase financial advantage
C. Faclitate profit maximization
D. Enhance economies of scale

Question 15:

• JAMB 1997

When it became necessary to liquidate a company, the frist step to be taken is the appointment of

A. A receiver
B. An auditor
C. An accountant
D. Liquidator