Business Organizations - Jamb Economics Past Questions and Answers

Question 51:

• JAMB 1987

The liability of the sole trader is?

A. Indeterminable
B. Unlimited
C. Transferable
D. Limited

Question 52:

• JAMB 1987

Which of the following is NOT a type of business ownership?

A. Debenture holding
B. Private company
C. Parnership
D. Joint Stock venture

Question 53:

• JAMB 1987

A limited liability company is usually owned by?

A. An individual
B. A government
C. Shareholders
D. Two or more partners

Question 54:

• JAMB 1988

In a public company, enterpreneurial functions are performed by the?

A. Workers
B. Shareholders
C. General manager
D. Board of directors

Question 55:

• JAMB 1988

The most important limitation on the partner as a form of business enterprise is the?

A. Implication for partners'liability
B. Legal limitation placed on the number of partners
C. Difficulties arising from having two co-ordinate heads of a firm
D. Fact that each partner regardless of the capital he contributes, must have the same voting rights