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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.

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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 1· Forms of business organisation· WAEC

    A partner who contributes capital but takes no part in management is a

    Explanation and discussion

  2. Question 2· Forms of business organisation· WAEC

    Profits of a consumers' cooperative society are shared according to

    Explanation and discussion

  3. Question 3· Forms of business organisation· WAEC

    A cooperative society formed by farmers to sell their produce together is a

    Explanation and discussion

  4. Question 4· Forms of business organisation· WAEC

    A franchise allows a business to

    Explanation and discussion

  5. Question 5· Forms of business organisation· WAEC

    A consumer cooperative society aims to

    Explanation and discussion

  6. Question 6· 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

  7. Question 7· Forms of business organisation· JAMB

    A merger occurs when

    Explanation and discussion

  8. Question 8· Forms of business organisation· WAEC

    A sole proprietor's liability for business debts is

    Explanation and discussion

  9. Question 9· 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

  10. Question 10· Forms of business organisation· WAEC

    Under CAMA 2020, a private company may have at most

    Explanation and discussion

  11. Question 11· Forms of business organisation· JAMB

    A joint venture is

    Explanation and discussion

  12. Question 12· Forms of business organisation· WAEC

    Public corporations in Nigeria are owned by

    Explanation and discussion

  13. Question 13· Forms of business organisation· JAMB

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

    Explanation and discussion

  14. Question 14· Forms of business organisation· WAEC

    A public company invites the public to buy its shares through a

    Explanation and discussion

  15. Question 15· Forms of business organisation· JAMB

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

    Explanation and discussion

  16. Question 16· Forms of business organisation· WAEC

    Chidi runs a small provision shop alone, takes every decision and keeps all the profit. His business is a

    Explanation and discussion

  17. Question 17· Forms of business organisation· JAMB

    A business owned and controlled by one person is a

    Explanation and discussion

  18. Question 18· Forms of business organisation· JAMB

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

    Explanation and discussion

  19. Question 19· Forms of business organisation· WAEC

    Shareholders of a limited company have

    Explanation and discussion

  20. Question 20· Forms of business organisation· JAMB

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

    Explanation and discussion

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