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Friday, 10 April 2026
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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 6:
The partner that only contributes part of the capital used in the formation and running of a business is known as?
  • A A passive partner
  • B An active partner
  • C A dormant partner
  • D A nominal partner
View Answer & Explanation
Question 7:
One major advantage of a credit and thrift cooperative is that
  • A It can approach government for loan
  • B It encourages saving habit
  • C There are no legal restrictions
  • D Each member has a vote during meetings
View Answer & Explanation
Question 8:
A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?
  • A Joint partnership
  • B Cooperative
  • C Corperation
  • D Joint venture
View Answer & Explanation
Question 9:
At the collapse of a business enterprise, the person appointed to dispose of all assets is called
  • A A broker
  • B An auctioneer
  • C A liquidator
  • D An auditor
View Answer & Explanation
Question 10:
Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?
  • A Distress
  • B Closure
  • C Bankruptcy
  • D Liquidation
View Answer & Explanation