Forms and features - Jamb Commerce Past Questions and Answers

Question 46:

• JAMB 2012

A business organization that exploits the capabilities of a member to remedy the weaknesses of another is

A. Joint venture
B. Partnership
C. Nominal partnership
D. Cooperative

Question 47:

• JAMB 2012

A feature common to public and private limited liability companies is that

A. Both can sue and be sued
B. The minimum number of their shareholders is five
C. The transfer of their shares is not restricted
D. Their annual accounts are published for public use

Question 48:

• JAMB 2013

In order to increase the capital owned, a sole trader may

A. Seek for bank loan
B. Issue debentures
C. Acquire extra shop fittings on credit
D. Draw less of his profit for personal use

Question 49:

• JAMB 2013

A business partner who provides capital but abstains from participation in administration of a firm is a

A. General partner
B. Nominal partner
C. Secret partner
D. Dormant partner

Question 50:

• JAMB 2014

The major aim of establishing a public corporation is to

A. Establish a monopoly
B. Provide essential services
C. Provide employment opportunities
D. Encourage specialization