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JAMB and WAEC Commerce questions: Forms of business organisation

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

AllJAMBWAEC
All topicsAdvertising and marketing · 32Business management and environment · 32Commerce and its scope · 31Communication · 33Computers and ICT in business · 29Consumer protection · 30Documents used in trade · 34Elements of commercial law · 31Financing a business · 32Foreign trade · 40Forms of business organisation · 40Home trade: retail and wholesale · 40Insurance · 39Money and banking · 40Occupation and production · 33The stock exchange · 34Transport · 33Warehousing · 28

  1. Question 21· Forms of business organisation· JAMB

    Dissolution of a partnership may occur when

    Explanation and discussion

  2. Question 22· Forms of business organisation· JAMB

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

    Explanation and discussion

  3. Question 23· Forms of business organisation· WAEC

    A partner who lends his name to a firm but contributes no capital is a

    Explanation and discussion

  4. Question 24· Forms of business organisation· JAMB

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

    Explanation and discussion

  5. Question 25· Forms of business organisation· WAEC

    The document that governs the internal affairs of a company is the

    Explanation and discussion

  6. Question 26· Forms of business organisation· JAMB

    A private limited company in Nigeria must have the word

    Explanation and discussion

  7. Question 27· Forms of business organisation· JAMB

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

    Explanation and discussion

  8. Question 28· Forms of business organisation· JAMB

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

    Explanation and discussion

  9. Question 29· Forms of business organisation· WAEC

    The maximum number of members in an ordinary partnership is usually

    Explanation and discussion

  10. Question 30· Forms of business organisation· JAMB

    The Nigerian Enterprises Promotion Decree of 1972 aimed to

    Explanation and discussion

  11. Question 31· Forms of business organisation· JAMB

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

    Explanation and discussion

  12. Question 32· Forms of business organisation· JAMB

    A merger is

    Explanation and discussion

  13. Question 33· Forms of business organisation· JAMB

    Under CAMA, companies in Nigeria are registered with the

    Explanation and discussion

  14. Question 34· Forms of business organisation· WAEC

    The document setting out the rules for the internal running of a company is the

    Explanation and discussion

  15. Question 35· Forms of business organisation· WAEC

    The document that governs the internal management of a company is the

    Explanation and discussion

  16. Question 36· Forms of business organisation· WAEC

    A public company issues a prospectus to

    Explanation and discussion

  17. Question 37· Forms of business organisation· JAMB

    Commercialisation of a public corporation means

    Explanation and discussion

  18. Question 38· Forms of business organisation· JAMB

    The liability of a shareholder in a company limited by shares is limited to

    Explanation and discussion

  19. Question 39· Forms of business organisation· WAEC

    A sleeping partner

    Explanation and discussion

  20. Question 40· Forms of business organisation· WAEC

    The main aim of a public corporation is to

    Explanation and discussion

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