Private Enterprises( Sole-proprietorship, Partnership, Limited Liability Companies, Cooperative Societies) Jamb Economics Past Questions
Question 11
Among the disadvantages of the one-man business is the fact that______
- A. its capital may not be increased without government permission
- B. the proprietor is personally liable for the firm's debts
- C. the proprietor is not able to obtain credit
- D. the proprietor may not sue for bad debts
Question 12
The type of business organizations mostly used for producing public goods in Nigeria is
- A. Sole proprietorships
- B. Limited liability companies
- C. Co-operative societies
- D. Statutory corporations
Question 13
Public limited liability companies are owned by__________?
- A. The federal government
- B. Private and individual organizations
- C. The state government
- D. The federal and state governments
Question 14
One of the characteristics of private enterprises is ______?
- A. Provision of welfare to the citizens
- B. That tax payers bear all the risks
- C. Public ownership of shares
- D. Individual funding of business activities
Question 15
A firm owned and managed by a family is an example of ______?
- A. joint stock exchange
- B. cooperative society
- C. sole proprietorship
- D. partnership
