Forms and features - Jamb Commerce Past Questions and Answers

Question 1:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods

Question 2:

• JAMB 1994

A distinguishing characteristics of a limited liability company is that it

A. is a collection of many sole proprietors
B. is a multiple partnership
C. Can sue and be sued
D. has limited resources

Question 3:

• JAMB 1994

Which of the following is both direct and indirect credit enterprise?

A. A co-operative and thrift society
B. Retail co-operative society
C. Consumer co-operative society
D. Wholesaler co-operative society

Question 4:

• JAMB 1994

Nationalization of an industry means that its ownership becomes that of

A. Government
B. Shareholders
C. Taxpayers
D. Indigenes

Question 5:

• JAMB 2019

In the formation of a united liability company, the following documents are prepared except_______

A. Memorandum of Association
B. Article of Association
C. Statement of Nominal Capita
D. Prospectus