
Quiz No. 1
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Business
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University
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Practice Problem
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Darleane Coronel
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20 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
It involves the most complex activities and actually produces the goods that it sells to customers.
Service concern
Trading concern
Manufacturing concern
Non-profit enterprise
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The following are disadvantages of sole proprietorship, except:
Proprietor does not receive the benefit of second opinion on decisions made.
Proprietor bears the risks and losses which may be incurred in the business.
Proprietor has limited personal liability for the debts incurred by the business.
Proprietor has limited ability to raise capital once volume of business increases.
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The following are advantages of partnership, except:
Burden of management is shared among partners.
More ideas are exchanged and brainstormed which results in better decision-making
Can raise more capital than sole proprietorship
Depends on the capability of each partner to invest resources into the business.
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
It is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence
Sole proprietorship
Partnership
Corporation
Cooperative
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
These are the corporators of a stock corporation.
Stockholder
Member
Investor
Creditor
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
These are the functions of a business directly related to providing its goods and/or services to the market.
Financing activities
Investing Activities
Operating Activities
Marketing Activities
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
It is the process of identifying, measuring and communicating economic information to permit informed judgment and decision by users of the information.
Accounting
Financial Reporting
Financing
Investing
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