Private Enterprises( Sole-proprietorship, Partnership, Limited Liability Companies, Cooperative Societies) Jamb Economics Past Questions
Question 1
In a sole proprietorship, the decisions are made by the ______
- A. Government
- B. Management
- C. Owner
- D. Board of Directors
Question 2
A typical corporate form of business organization is owned by ______
- A. Shareholders
- B. A local government
- C. The president of a country
- D. Foreigners and citizens of the country.
Question 3
Which of these is not usually the function of a wholesaler?
- A. Branding
- B. Storage
- C. Transport
- D. Advertising
Question 4
A disadvantage of a jont-stock company is
- A. unlimited liability
- B. limited liability
- C. lack of continuity when a shareholder dies
- D. limited control in management by shareholders
Question 5
The basic principle of cooperative societies is to ________
- A. maintain the integrity of their members
- B. protect the interest and pursue the welfare of members
- C. ensure better working conditions for members
- D. provide voluntary services to the members
