Private enterprises - Jamb Economics Past Questions and Answers

Question 51:

• JAMB 2004

The number of shareholders in a private limited liability company ranges from

A. Two to seven
B. Two to three
C. Two to fifty
D. Two to twenty

Question 52:

• JAMB 2006

A characteristic common to partnership and sole proprietorship is

A. Limited liability
B. Accessibility to loan
C. Transferability of shares
D. Unlimited laibility

Question 53:

• JAMB 2006

An association formed by a group of individuals solely for the marketing of their product is a

A. Credit and thrift society
B. Consumer cooperative society
C. Producer cooperative society
D. Voluntary organization

Question 54:

• JAMB 2007

The survival of a partnership depends on

A. The managerial ability of the partners
B. Access to finance
C. The goodwill of the partners
D. Political stability

Question 55:

• JAMB 2009

The major problem confronting a sole proprietor is

A. High level of risk
B. Limited expertise
C. Limited source of capital
D. High taxation