Business Organizations - Jamb Economics Past Questions and Answers

Question 96:

• JAMB 2001

The losses suffered by a sole proprietor are?

A. Usually equal to the amount invested
B. Usually less than the amount invested
C. Limted to the amount invested
D. Not limited to the amount invested

Question 97:

• JAMB 2002

External finance for a limited liability company is mainly sourced through?

A. The leasing equipment
B. The issuing of shares
C. Trade credits
D. Banks loans

Question 98:

• JAMB 2002

The present privatization policy in Nigeria is aimed at?

A. Reducing income inequality
B. Reducing the prices of goods and services
C. Poverty alleviation
D. Increasing efficiency in production

Question 99:

• JAMB 2003

An advantage of the sole proprietorship over the partnership from of business organisation is that

A. Its existence is limited by an individual's life span
B. It relies on the decision of friends to succeed
C. The possibility of conflict in management is virtually non-existent
D. It enjoys limited liability for debt in the event of failure

Question 100:

• JAMB 2003

Privatization and commercialization of public enterprise in Nigeria is necessitated by

A. The IBRD conditions
B. The government's loss of interest in them
C. Their operational inefficiency
D. The IMF conditions