Private enterprises - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 1980

Which would you NOT consider an advantage of one-man business?

A. Freedom of action
B. Limited liabiities
C. Quick decision-making
D. Personal contact with customers
E. None o the albove

Question 12:

• JAMB 1980

A limited liability company is owned by?

A. An individual
B. Two or more partners
C. Shareholders
D. Government
E. A bank

Question 13:

• JAMB 1980

In a limited liability company, the greatest risk is borne by?

A. Debenture holders
B. Company executives
C. Ordinary shareholders
D. Preference shareholders
E. Borad of directors

Question 14:

• JAMB 1981

unlimited liability means?

A. The government can tax a company without limit
B. The debts of a company must be paid out of it assets
C. A company ceases to exist at the death of one of its owners
D. A firm must pay its debts from business as well as private funds
E. None of the above

Question 15:

• JAMB 1982

Who controls a limited liability company ?

A. The general manager
B. The managing director
C. The owner of 51% of shares
D. The board of directors
E. The government