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JAMB Commerce questions: Forms of business organisation

21 questions with answers and explanations. Tap an option to check yourself.

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All topicsAdvertising and marketing · 16Business management and environment · 17Commerce and its scope · 15Communication · 16Computers and ICT in business · 14Consumer protection · 14Documents used in trade · 16Elements of commercial law · 15Financing a business · 16Foreign trade · 21Forms of business organisation · 21Home trade: retail and wholesale · 21Insurance · 21Money and banking · 21Occupation and production · 16The stock exchange · 17Transport · 17Warehousing · 13

  1. Question 1· Forms of business organisation· JAMB

    In a partnership, a partner who contributes capital but takes no part in running the business is a

    Explanation and discussion

  2. Question 2· Forms of business organisation· JAMB

    A merger occurs when

    Explanation and discussion

  3. Question 3· Forms of business organisation· JAMB

    The document that states a company's name, objects and the liability of its members is the

    Explanation and discussion

  4. Question 4· Forms of business organisation· JAMB

    A joint venture is

    Explanation and discussion

  5. Question 5· Forms of business organisation· JAMB

    The certificate that allows a public company to begin business after incorporation was traditionally the

    Explanation and discussion

  6. Question 6· Forms of business organisation· JAMB

    Under Nigerian company law, an ordinary partnership carrying on business for profit may have at most

    Explanation and discussion

  7. Question 7· Forms of business organisation· JAMB

    A business owned and controlled by one person is a

    Explanation and discussion

  8. Question 8· Forms of business organisation· JAMB

    Members of a consumers' cooperative society share surplus mainly in proportion to their

    Explanation and discussion

  9. Question 9· Forms of business organisation· JAMB

    When government sells its shares in a state-owned company to private investors, this is

    Explanation and discussion

  10. Question 10· Forms of business organisation· JAMB

    Dissolution of a partnership may occur when

    Explanation and discussion

  11. Question 11· Forms of business organisation· JAMB

    Under CAMA 2020, the minimum number of members needed to form a private company is

    Explanation and discussion

  12. Question 12· Forms of business organisation· JAMB

    A public corporation such as a state water board is owned by

    Explanation and discussion

  13. Question 13· Forms of business organisation· JAMB

    A private limited company in Nigeria must have the word

    Explanation and discussion

  14. Question 14· Forms of business organisation· JAMB

    The document that regulates the internal management of a limited company is the

    Explanation and discussion

  15. Question 15· Forms of business organisation· JAMB

    Mrs Okon runs a provision shop alone. Her biggest risk as a sole proprietor is

    Explanation and discussion

  16. Question 16· Forms of business organisation· JAMB

    The Nigerian Enterprises Promotion Decree of 1972 aimed to

    Explanation and discussion

  17. Question 17· Forms of business organisation· JAMB

    Company P owns 70% of the shares of companies Q and R. P is

    Explanation and discussion

  18. Question 18· Forms of business organisation· JAMB

    A merger is

    Explanation and discussion

  19. Question 19· Forms of business organisation· JAMB

    Under CAMA, companies in Nigeria are registered with the

    Explanation and discussion

  20. Question 20· Forms of business organisation· JAMB

    Commercialisation of a public corporation means

    Explanation and discussion

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