Business Organizations - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2018

The business risks of a public corporation are borne ultimately________

A. By the government
B. By the treasury
C. By the rate payers
D. By the tax payers

Question 2:

• JAMB 2018

Among the disadvantages of the one-man business is the fact that______

A. Its capital may not be increased without government permission
B. The proprietor is personally liable for the firm's debts
C. The proprietor is not able to obtain credit
D. The proprietor may not sue for bad debts

Question 3:

• JAMB 2019

The form of capital that is required for the day-to-day running of production activities is called?

A. Fixed capital
B. Social Capital
C. Circulating capital
D. Liquid capital

Question 4:

• JAMB 2019

Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?

A. Partnership
B. Sole proprietorship
C. Public limited liability company
D. Private limited liability company

Question 5:

• JAMB 2019

The transfer of public share holding in corporations to private enterprise is___________?

A. Incorporation
B. Concession
C. Privatization
D. Commercialization