Jamb Commerce 2004 Past Questions and Answers

Question 31:

• JAMB 2004

An action taken by a company outside its object clause is regarded as?

A. Ultra vires
B. A trespass
C. Uberrima fides
D. Caveat emptor

Question 32:

• JAMB 2004

The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is?

A. Rejuvenation
B. Focus
C. Diversification
D. Consolidation

Question 33:

• JAMB 2004

A written partnership contract is known as?

A. An invoice
B. A deed
C. A prospectus
D. A proposal

Question 34:

• JAMB 2004

A group of assets which a business acquires with the intention of reselling them are referred to as?

A. Current assets
B. Investment assets
C. Fixed assets
D. Intangible assets

Question 35:

• JAMB 2004

The merger of a textile mill, a cement company and a tannery is referred to as?

A. Conglomerate merger
B. Horizontal merger
C. Lateral merger
D. Vertiical merger