Partnership - Jamb Economics Past Questions and Answers

Question 6:

• 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 7:

• 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 8:

• JAMB 2013

A major disadvantage of partnership business is

A. Difficulty in the transfer of shares
B. Distrust among members
C. Limited liability
D. Large capital outlay