Business Units - Jamb Commerce Past Questions and Answers

Question 101:

• JAMB 2005

A partnership is dissolved when?

A. The business suffers a loss
B. There is bankruptcy
C. There is consistent theft
D. There is misunderstanding between partners

Question 102:

• JAMB 2005

One of the disadvantages of a sole proprietorship is?

A. Secrecy of annual reports
B. Pride of ownership
C. Limited liability
D. Unlimited liability

Question 103:

• JAMB 2005

An acquired firm in a merger will always receive a?

A. Premium
B. Grant
C. Share
D. Discount

Question 104:

• JAMB 2005

From which of the following sources can partnerships increase their capital?

A. Admission of a new partner
B. Sale of shares
C. Discharge of a mortage
D. Initial capital

Question 105:

• JAMB 2006

The difference between a private and public limited liability company is that the former?

A. Is unable to offer shares to the public
B. Is unable to declare and pay dividend
C. Has a higher number of shareholders
D. Pays higher salaries to its managers