Private enterprises - Jamb Economics Past Questions and Answers

Question 41:

• JAMB 1994

In the event of liquidation of a private limited liability company, the shareholders' liability is limited in their total?

A. Income from all sources
B. Family assets
C. Collateral offered for bank loans
D. Investment inthe company

Question 42:

• JAMB 1995

In a joint stock company, preference shareholders are those who receive?

A. High dividends when profits are high and little or nothing when profits are low
B. A fixed rate of individend and have the first claim on the net profits of the company
C. The remaining profits after all other shareholders have been paid
D. Dividends quarterly when others receive annually

Question 43:

• JAMB 1995

The major reason for the survival of small shops despite competition from large business enterprises is because of?

A. The small capital outlay involved
B. Regularity and constant supply of commodities by them
C. Their local srvices and longer hours of operation
D. Their level of managerial competence

Question 44:

• JAMB 1997

A form of business organization which is characterized by limited authority and liability of individual owners is the?

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

Question 45:

• JAMB 1998

Liquidation of limited liability company implies that the?

A. Company may not pay its debt
B. Debts of the company can only be paid from its own assets
C. Debts of the company are paid from both business and private funds of the owners
D. Debts of the company musts be paid from public funds only