Business Organizations - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 1978

A distinguishing characteristics of a consumers' cooperative is the fact that

A. The customers are the owners
B. The customers are the workers
C. The customers are the managers
D. The customers are low income people
E. The customers are high income people

Question 22:

• JAMB 1978

Which of the following is not a form of business organization

A. A sole proprietorship
B. Cartel
C. Partnership
D. Joint stock
E. Cooperative society

Question 23:

• JAMB 1978

The advantage of sole proprietorship is as follow

A. It is always successful
B. Continuity is no problem
C. Control and supervision is under one man
D. Funds are easy to obtain
E. Inter-generational equity is assured

Question 24:

• JAMB 1978

Bondholders are treated more favorably than shareholders because

A. They are not liable for the companies losses
B. They greater voice in the electing board of the directors
C. They control the management
D. They have a prior claim on the companies assets
E. None of the above

Question 25:

• JAMB 1979

A typical corporate form of business organization is owned by

A. President of a country
B. Shareholders
C. The general manager and the executives
D. A local government
E. Foreigners and citizens of the country