Commerce 2009 Jamb Examination
Question 21
An insurable risk is measurable and can be calculated to determine compensation. Therefore the correct option is B.
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Question 22
The fundamental purpose of insurance is to spread losses among many participants so that no single person bears the entire risk. Therefore the correct option is B.
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Question 23
Transportation allows businesses to reach wider markets beyond their immediate location. Therefore the correct option is A.
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Question 24
Warehousing enables storage of goods so that manufacturers can meet customer demand at the right time. Therefore the correct option is C.
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Question 25
The greatest challenge of sole proprietorship is raising sufficient capital to run and expand the business. Therefore the correct option is D.
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Question 26
In a public limited liability company, planning and policy decisions are the responsibility of the board of directors, not a single chairman or shareholders directly. Therefore the correct option is B.
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Question 27
Partnerships are most effective where professionals such as lawyers, accountants, or doctors are involved, as they bring expertise and credibility. Therefore the correct option is B.
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Question 28
In an ordinary partnership, all partners share profits and are jointly liable for the risks and debts of the business. Therefore the correct option is C.
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Question 29
A share represents ownership in a company and entitles the holder to dividends and possible capital gains. Therefore the correct option is A.
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Question 30
Circulating capital refers to short-term assets like cash, work-in-progress, and debtors that are used up quickly in the production cycle. Therefore the correct option is A.
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