Business Units - Jamb Commerce Past Questions and Answers

Question 131:

• JAMB 2012

In case of a liquidation of a public limited liability company, those that are first paid are

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

Question 132:

• 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 133:

• 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 134:

• 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 135:

• JAMB 2013

Which of the following will not be stated in a Memorandum of Association

A. Name clause
B. Rights of shareholders
C. Object clause
D. Registered office