Forms and features - Jamb Commerce Past Questions and Answers

Question 31:

• JAMB 2001

One major advantage of a credit and thrift cooperative is that

A. It can approach government for loan
B. It encourages saving habit
C. There are no legal restrictions
D. Each member has a vote during meetings

Question 32:

• JAMB 2001

A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?

A. Joint partnership
B. Cooperative
C. Corperation
D. Joint venture

Question 33:

• JAMB 2001

One major characteristic of credit unions and thrift societies is that?

A. The legal processes involved in their formation are rigid
B. Membership is compulsory to people in the same line of business
C. The contribution of every member depends on the member's ability
D. A minimum of ten people in the same line of business can form the union

Question 34:

• JAMB 2002

A retail cooperative society aims at?

A. Hoarding manufactured goods
B. Cutting off the profit of the middlemen
C. Lending money to members at a low interest rates
D. Encouraging members to save money

Question 35:

• JAMB 2003

The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a?

A. Joint venture
B. Cooperative society
C. Partnership
D. Company