Forms and features - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 2019

The difference between Articles of association and memorandum of Association is that the latter deals

A. With the Internal working relationship of the company and its members
B. With the powers and relationships of the company with outsiders
C. The method of issue, transfer and future of the company's shares
D. The rights and responsibilities of shareholders

Question 7:

• JAMB 2019

Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

A. Private limited liability
B. Public limited liability
C. Partnership
D. Co-operative society

Question 8:

• JAMB 2019

The Sole aim of government owned business is to

A. Make profit
B. Provide services to the public
C. Spread environmental pollution
D. Manage action

Question 9:

• JAMB 1994

A distinguishing characteristics of a limited liability company is that it

A. Is a collection of many sole proprietors
B. Is a multiple partnership
C. Can sue and be sued
D. Has limited resources

Question 10:

• JAMB 1994

Which of the following groups is paid first when a firm liquidates?

A. Preference shareholders
B. Debenture holders
C. Ordinary shareholders
D. Cumulative preference shareholders