Business Organizations - Jamb Economics Past Questions and Answers

Question 56:

• JAMB 1988

Under partnership, investors who have no desires to be actively involved in the day-to-day management of such organization, are called?

A. Stockholders
B. Sleeping partners
C. Part-time investors
D. Ordinary partners

Question 57:

• JAMB 1989

The size of a business units tends to be small if the activity?

A. Involves mass production of goods
B. Requires a large capital
C. Requires division of labour
D. Involves the provision of direct services

Question 58:

• JAMB 1989

Which type of business organization has the attribute effectively combining management with control?

A. Sole proprietorship
B. Partnership
C. Limited liability company
D. Co-operatives

Question 59:

• JAMB 1989

The co-operative as a form of business organization differs from partnership by having?

A. Serveral sources of capital for business financing
B. Ability to issue preferred stocks to members
C. Entrenched democratic control in the conduct of business
D. Established rules and regulations governing the activities of its members

Question 60:

• JAMB 1989

the type of business finance that entitle the holder to a fixed rate of dividend is?

A. Perferred stock
B. Common stock
C. Debenture stock
D. Bank loan