Dissolution And Liquidation Of Business Units - Commerce Jamb Past Questions and Answers

Question 6 :

• JAMB 1995

In the case of a voluntary liquidation of a business the receivers is appointed by the by the

A. Creditors
B. Debtors
C. Directors
D. Shareholders

Question 7 :

• 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

Question 8 :

• JAMB 1997

In which of the following circumstances is a court order NOT necessary for the winding up of a company?

A. Supension of businesss for one year
B. Special resolution of members
C. Reduction in the number of members below the legal minimum
D. Inability to pay it debts

Question 9 :

• JAMB 2000

On liquidation of a public limited liability company, the residual owners are the

A. Creditors
B. Ordinary shareholders
C. Preference shareholders
D. Debenture holders

Question 10 :

• JAMB 2001

At the collapse of a business enterprise, the person appointed to dispose of all assets is called

A. A broker
B. An auctioneer
C. A liquidator
D. An auditor