A FIRM IS SAID TO BE A PUBLIC JOINT-STOCK COMPANY WHEN IT
A. has unlimited liability B. is administered by the public C. is owned by the government D. operates as a public corporation E. sells its shares to members of the public ✓ The answer to the question is: E. sells its shares to members of…
WHEN SHARES ARE ISSUED TO THE PUBLIC AND THE ISSUING COMPANY HAS NOT REQUESTED FOR PAYMENTS, IT IS REFERRED TO AS
A. authorized capital B. paid-up capital C. uncalled capital ✓ D. unissued capital The answer to the question is: C. uncalled capital When shares are issued to the public and the issuing company has not requested for payments, it is referred to as…
THE DOCUMENT SETTING OUT THE REGULATIONS REGARDING SHARES, MEETINGS AND INTERNAL ORGANIZATION OF A COMPANY IS KNOWN AS
A. memorandum of association B. article of association ✓ C. prospectus D. company law The answer to the question is: B. article of association The document setting out the regulations regarding shares, meetings, and internal organization of a company is known as the “article…
A COMPANY THAT SELLS ITS GOODS DIRECTLY IN FOREIGN COUNTRIES IS ENGAGING IN
A. Exportation ✓ B. Importation C. Franchising D. Licencing The answer to the question is: A. Exportation When a company sells its goods directly in foreign countries, it is engaging in Exportation. Exportation refers to the act of selling goods or services produced in…
DEFINITION OF A COMPANY
A company can be defined as a legal person or entity created by the association of a number of people in accordance with the law for the purpose of a defined object. Examples of companies in Nigeria include Nestle Foods…
PUBLIC LIMITED LIABILITY COMPANY (OR JOINT STOCK COMPANY)
A public limited liability company is defined as one which by its articles allows the public to subscribe for its shares, must have a minimum of seven persons but no maximum number is prescribed, allows the shares to be transferred…
LIMITED LIABILITY COMPANIES
DEFINITION OF A COMPANY A company can be defined as a legal person or entity created by the association of a number of people in accordance with the law for the purpose of pooling their capital together in order to…
MARKETING CONCEPTS
Marketing concept is a marketing philosophy which sees the consumer or client as the central focus of all the activities of an organisation because no organisation can survive without the continued patronage of its consumers. This philosophy regards a genuine…
THE ROYAL NIGER COMPANY
The legitimate trade in communities attracted a number of British merchants to the Niger River, as well as others who had been formerly engaged in the slave trade but now changed their line of trade. The large companies that opened…