Forms and features - Jamb Commerce Past Questions and Answers

Question 26:

• JAMB 1999

A common requirement for public and private limited companies in Nigeria is that

A. A shareholder cannot transfer his shares to someone else without permission from other shareholders
B. Their annual account are made available to the Corporate Affairs Commision
C. Shares can be offered for sale on the stock exchange
D. Shares can be offered for sale through an issuing house

Question 27:

• JAMB 1999

A business whose owners enjoys loan facilities on the basis of personal goodwill is a?

A. Commercial bank
B. Thrift society
C. Co-operative society
D. Community bank

Question 28:

• JAMB 1999

Which of the following is not a veritable source of funds to a public limited company?

A. Government financial grant
B. Advances and loan from banks
C. Internally generated funds
D. Funds from the sale of shares

Question 29:

• JAMB 2000

The term Plc implies that the are available

A. To the public at the company
B. Privately on the stock exchange
C. Publicly on the stock exchange
D. Publicly in commericial banks

Question 30:

• JAMB 2001

The partner that only contributes part of the capital used in the formation and running of a business is known as?

A. A passive partner
B. An active partner
C. A dormant partner
D. A nominal partner