Business Organizations - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 2017

Which of these is a type of partnership in business?

A. Limited partnership
B. Limited liability company
C. Private partnership
D. Joint stock partnership

Question 12:

• JAMB 2017

A partnership sourcing for funds to expand its business would approach _______

A. A central bank
B. A money market
C. An insurance
D. A stock exchange

Question 13:

• JAMB 2017

The basic principle of cooperative societies is to ________

A. Maintain the integrity of their members
B. Protect the interest and pursue the welfare of members
C. Ensure better working conditions for members
D. Provide voluntary services to the members

Question 14:

• JAMB 2017

A firm owned and managed by a family is an example of ______?

A. Joint stock exchange
B. Cooperative society
C. Sole proprietorship
D. Partnership

Question 15:

• JAMB 2016

One of the characteristics of private enterprises is ______?

A. Provision of welfare to the citizens
B. That tax payers bear all the risks
C. Public ownership of shares
D. Individual funding of business activities