Ellis, Claudine, and Jolina own and operate the Coffee Project inside UST. They have equally exerted time, money, and effort to open that cafeteria. What kind of business ownership do they have?

• Service Entity

• Corporation

• Partnership

• Merchandising Entity

Michael, Kurt, and Luke wanted to register their newly established company in SEC. What kind of business ownership do they have?

• Service Entity

• Corporation

• Partnership

• Merchandising Entity

TRUE OR FALSE. There are so many technically trained people who could manage the corporation.

• TRUE

• FALSE

TRUE OR FALSE. Gathering a large number of capital investments from hundreds of thousands of investors is so difficult in a corporate setting.

• TRUE

• FALSE

TRUE OR FALSE. In corporation, the transferability of the ownership of the shares from one stockholder to another investor is hard to settle and non-negotiable.

• TRUE

• FALSE

TRUE OR FALSE. From the point of view of an accountant, a partnership is NOT considered separate and distinct from its partners.

• TRUE

• FALSE

TRUE OR FALSE. From the legal viewpoint, the partners are personally liable for the unsettled debts in case of a partnership bankruptcy.

• TRUE

• FALSE

It provides various forms of services, not tangible products, to its customers or clients.

• Merchandising Enterprise

• Manufacturing Enterprise

• Service Enterprise

This business enterprise is also known as a fabricator.

• Corporation

• Merchandising Enterprise

• Manufacturing Enterprise

• Processor

This business enterprise is also known as the “buy and sell” structure.

• Corporation

• Merchandising Enterprise

• Manufacturing Enterprise

• Processor