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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 6:
Service which are of absolute monopoly can can best be proved by
  • A Private companies
  • B Limited liability companies
  • C Public companies
  • D Public enterprises
View Answer & Explanation
Question 7:
One advantage the co-operative society has over the company is that the
  • A The latter pays tax while the former does not
  • B Former attract more capitals than the later
  • C Members of the former is usually morethan the latter
  • D Former, unlike the latter, has limited liabities
View Answer & Explanation
Question 8:
Use the above information below to answer question 7 and 8. Mr obi is a manager of obi Agricultural Venture. he makes all the decisions and takes all profits from the business. H e had agreed with Alhaji Musa It can be deduce from the above that obi AgricultrualVenture is a (a farmer) to pool their resources together and expand their business.They invited Mr Abayomi (a cotton grower) to join them. Mr Abayami agreed on the condition that his liability in the new firm will be limited to his investment in it. The thus registered Obi, Musa and Abayaomi''s Agricultural ventures.
  • A A sole proprietorship
  • B General partnership
  • C Limited partnership
  • D Limited partnership
  • E Joint partnership
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Question 9:
Which of the statements below is true of Mr Abayomi?
  • A He can assign his shares to another without consent of other partners
  • B He cannot take part in the management of the business
  • C His actions as a limited partner can bind the firm
  • D His death will automatically dissolve partnership
View Answer & Explanation
Question 10:
A source of capital to private limited companies is shares issued to
  • A The public
  • B Selected persons
  • C Members of the borad of directors
  • D Dedicated members of staff
View Answer & Explanation