Business Organizations - Jamb Economics Past Questions and Answers

Question 86:

• JAMB 1997

A form of business organization which is characterized by limited authority and liability of individual owners is the?

A. Sole proprietorship
B. Partnership
C. Joint stock company
D. Co-operative society

Question 87:

• JAMB 1997

The shares that must be redeemed first at liquidation of a company are?

A. Preference shares
B. Non-voting ordinary shares
C. Ordinary shares
D. Debentures

Question 88:

• JAMB 1997

Privatization of government-owned companies means the?

A. Relinquishing of government equility participation to private individuals
B. Recapitalization of distressed government-owned companies
C. Joint paticipation of government and private individuals
D. Commercialization and deregulation of the economy

Question 89:

• JAMB 1998

Liquidation of limited liability company implies that the?

A. Company may not pay its debt
B. Debts of the company can only be paid from its own assets
C. Debts of the company are paid from both business and private funds of the owners
D. Debts of the company musts be paid from public funds only

Question 90:

• 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