Dissolution and liquidation of business units - Jamb Commerce Past Questions and Answers

Question 16:

• JAMB 2017

At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________?

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

Question 17:

• JAMB 2017

A partnership is dissolved due to ________

A. Liquidity of the firm
B. Death of the employee
C. Insanity of a partner
D. Resignation of an employee

Question 18:

• JAMB 2018

when it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?

A. A receiver
B. An auditor
C. An account
D. A liquidator

Question 19:

• JAMB 2018

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

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

Question 20:

• JAMB 2019

A partnership may be automatically dissolved due to the following factors except________

A. Court verdict
B. Joint decision
C. Admission of new partners
D. Bankruptcy of a partner