Business Organizations - Jamb Economics Past Questions and Answers

Question 66:

• JAMB 1991

The ordinary partner in a partnership?

A. Takes no active in the management of the business
B. Has limited liability in case of business failure
C. Has unlimited liability in case of business failure
D. Cannot be sued personally on matters relating to the business

Question 67:

• JAMB 1991

A possible factor which limits the extent of growth of a firm is the?

A. Existence of a monoploy
B. Bureaucratic delays in decision-making
C. Use of by-products
D. Unwillingness to share ownership and control

Question 68:

• JAMB 1991

One of the most outstanding disadvantages of co-operative societies as business organization is that?

A. True spirit of co-operation is marred by delegated authority
B. Members show much interest
C. It is poorly financed
D. Membership interest is centred on sharing of essential commodities

Question 69:

• JAMB 1991

A disadvantage of a joint-stock company is?

A. Unlimited liability
B. Limited liability
C. Continuity
D. Loss of controlling interest

Question 70:

• JAMB 1991

A disadvantage of a joint-stock company is?

A. Unlimited liability
B. Limited liability
C. Continuity
D. Loss of controlling interest