There are __________ different types of meeting are stated in the articles of association.
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_________ are sent to the Registrar of companies at the same time with the; Memorandum of Association.
A. articles of association
B. articles of memorandom
C. articles of participation
D. all of the above
Answer: A
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__________ regulates the powers of the company and fixes its objects in relation to the outside world.
A. memorandom of attendance
B. memorandum of participation
C. memorandum of Association
D. memorandum of articulation
Answer: C
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The full procedure for formation, registration, and filing of specific documents and returns of companies whether private or public companies in Nigeria is NOT governed by the Companies Decree No.51 of 1968.
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A public corporation enjoys a substantial advantage over other forms of public enterprises.
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_________is an association of individuals, artificial being, invisible, intangible and only existing in the contemplation of law.
A. corporate business
B. corporate society
C. corporate beneficiary
D. corporate sponsorship
Answer: B
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Which one of the following is NOT an advantage of a partnership.
A. There is likelihood for growth expansion because of the possibility of raising additional capital.
B. Where two or more businesses are combined as partnership, there is room for economies of scale.
C. Drawings of business resources are charged with interest, thus drawings is discouraged.
D. The liability of the partners is unlimited to their investment, except for a Limited partner
Answer: D
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Which one of the following is NOT a disadvantage of a partnership.
A. The liability of the partners is unlimited to their investment, except for a Limited partner.
B. There could be disagreements and clashes among the partners in the process of managing the business.
C. The profit realized from the business is not for one person rather it is shared among all the partners.
D. The losses and risks associated with the business are borne by every partner.
Answer: D
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_________ is a form of business where two or more parties come together to undertake a particular business transaction for a common benefit.
A. joint venture
B. joint partnership
C. joint proprietorship
D. all of the above
Answer: A
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_________ involves a liaison between existing private and public organizations each of which is able to contribute highly specialized services or facilities to the common enterprise, which is usually of major industrial significance.
A. limited partnership
B. industrial partnership
C. norminal partnership
D. quasi partnership
Answer: B
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