Quiz 2 Busmngt -COA 1A

The simplest and most common form of business, owned

and run by someone for their own benefit.

• Sole proprietorship

• Partnership

• Corporation

• Limited liability company

A form of business where both owners invest their money, property, labor to the business and are both 100% liable for business debts.

• Sole proprietorship

• Partnership

• Corporation

• Limited liability company

It is a legal entity separate from its owners, made up of individuals, groups, or other corporations, that has the power to conduct business and to own property, assets, and liabilities

• Sole proprietorship

• Partnership

• Corporation

• Limited liability company

A form of business where hybrid entities combine the characteristics of a corporation with those of a partnership or sole proprietorship.

• Sole proprietorship

• Partnership

• Corporation

• Limited liability company

It refers to a corporation’s purpose for actively improving society as a whole.

• Philanthrophic responsibility

• Ethical responsibility

• Legal responsibility

• Economic responsibility

Is the ability to recognize, interpret and act upon multiple principles and

values according to the standards within a given field and context.

• Philanthrophic responsibility

• Ethical responsibility

• Legal responsibility

• Economic responsibility

Is the right to make decisions concerning the day-to-day care welfare and

development of a child.

• Philanthrophic responsibility

• Ethical responsibility

• Legal responsibility

• Economic responsibility

It refers to the practice of making financial decisions based on a commitment

to doing good.

• Philanthrophic responsibility

• Ethical responsibility

• Legal responsibility

• Economic responsibility

Business has a responsibility to operate within the boundaries set by the various commissions and agencies at every level of the government.

• Philanthrophic responsibility

• Ethical responsibility

• Legal responsibility

• Economic responsibility

It is a concept of individuals and businesses taking the responsibility to act in the best interest of their society and environment while working for their betterment or profit.

• Philanthrophic responsibility

• Social responsibility

• Legal responsibility

• Economic responsibility