Forms and features - Jamb Commerce Past Questions and Answers

Question 21:

• JAMB 1998

Service which are of absolute monopoly can can best be proved by

A. Private companies
B. Limited liability companies
C. Public companies
D. Public enterprises

Question 22:

• JAMB 1998

Which of the statements below is true of Mr Abayomi?

A. He can assign his shares to another without consent of other partners
B. He cannot take part in the management of the business
C. His actions as a limited partner can bind the firm
D. His death will automatically dissolve partnership

Question 23:

• JAMB 1998

A source of capital to private limited companies is shares issued to

A. The public
B. Selected persons
C. Members of the borad of directors
D. Dedicated members of staff

Question 24:

• JAMB 1998

Which of the following statement is true of preferred stockholders?

A. They have no voting rights at annual general meetings
B. They first claim company asset before creditors
C. The have first claim to company asset after all debts have been settled
D. They share dividends equally with common shareholders

Question 25:

• JAMB 1998

The main function of thrift, credit and loans co-operative societies is to

A. Educate their members
B. Collect money from their members
C. Disburse money to their members
D. Raise investment finance among thir members