Private enterprises - Jamb Economics Past Questions and Answers

Question 31:

• JAMB 1989

The co-operative as a form of business organization differs from partnership by having?

A. Serveral sources of capital for business financing
B. Ability to issue preferred stocks to members
C. Entrenched democratic control in the conduct of business
D. Established rules and regulations governing the activities of its members

Question 32:

• JAMB 1989

Which of the business organization listed below is characterized by limited authority and liability of the individual owners?

A. Sole properitorship
B. Partnership
C. Joint stock company
D. Co-operative society

Question 33:

• JAMB 1990

Divorce of ownership from control is a characteristic of?

A. Sole properitorship
B. A limited liability company
C. Partnership
D. A private limited company

Question 34:

• 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 35:

• JAMB 1991

One of the most outstanding disadvantages of co-operative societies as business organization is that?

A. True spirit of co-operation is marred by delegated authority
B. Members show much interest
C. It is poorly financed
D. Membership interest is centred on sharing of essential commodities