Business Units - Jamb Commerce Past Questions and Answers

Question 51:

• JAMB 1998

Which of the statements below is true of Mr Abayomi?

A. He can assign his shares to another without consent of other partners
B. He cannot take part in the management of the business
C. His actions as a limited partner can bind the firm
D. His death will automatically dissolve partnership

Question 52:

• JAMB 1998

A source of capital to private limited companies is shares issued to

A. The public
B. Selected persons
C. Members of the borad of directors
D. Dedicated members of staff

Question 53:

• JAMB 1998

Which of the following is an example of a conglomerate?

A. National Electric Power Authority
B. United Africa Company Nigeria Plc
C. The Nigeria Railway Corporation
D. First Bank of Nigeria Plc

Question 54:

• JAMB 1998

Which of the following statement is true of preferred stockholders?

A. They have no voting rights at annual general meetings
B. They first claim company asset before creditors
C. The have first claim to company asset after all debts have been settled
D. They share dividends equally with common shareholders

Question 55:

• JAMB 1998

A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is known the?

A. Pre-emptive right
B. Shareholders right
C. Ex-dividend right
D. Over-subscription right