Private enterprises - Jamb Economics Past Questions and Answers

Question 46:

• JAMB 1998

One form of business organization which is not motivated solely by the profit objective is the?

A. Joint stock company
B. Private limited company
C. Co-operative society
D. Ordinary partnership

Question 47:

• JAMB 1999

The major problem of cooperative societies in Nigeria is that?

A. They often lack cohersion and continuity
B. Their liability is unlimited to members
C. Voting is by proxy
D. Their management style is poor

Question 48:

• JAMB 2000

A distinguishing characteristic of cooperative societies is that voting power depends on the?

A. Number of shares held
B. Status of the member
C. Equality of members
D. Management's decision

Question 49:

• JAMB 2001

The losses suffered by a sole proprietor are?

A. Usually equal to the amount invested
B. Usually less than the amount invested
C. Limted to the amount invested
D. Not limited to the amount invested

Question 50:

• JAMB 2003

An advantage of the sole proprietorship over the partnership from of business organisation is that

A. Its existence is limited by an individual's life span
B. It relies on the decision of friends to succeed
C. The possibility of conflict in management is virtually non-existent
D. It enjoys limited liability for debt in the event of failure