LAHTM Tourism and Hospitality as a Trade

LAHTM Tourism and Hospitality as a Trade

University

20 Qs

quiz-placeholder

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LAHTM Tourism and Hospitality as a Trade

LAHTM Tourism and Hospitality as a Trade

Assessment

Quiz

Professional Development

University

Practice Problem

Hard

Created by

Marvin Cabantac

Used 8+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of registering a sole proprietorship in the Philippines?

To secure licenses and permits

To establish a common fund

To receive tax benefits

To protect personal assets

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the Civil Code, how many persons are required to form a partnership?

One

Two

Three

Four

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a general partnership, who has unlimited liability for the partnership's debts and obligations?

 All partners

Limited partners

Majority partners

Minority partners

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main advantage of a corporation?

Limited liability for shareholders

Ease of formation

Shared decision-making

Access to personal funds

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the key difference between a public corporation and a private corporation?

Public corporations offer shares of stock to the general public.

Private corporations have limited liability for debts and obligations.

Public corporations have unlimited liability for debts and obligations.

Private corporations are easier to form than public corporations.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a limitation of a sole proprietorship?

Limited access to capital

Limited liability for debts

Limited decision-making power

Limited tax benefits

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who has the power to manage a partnership?

Board of directors

Shareholders

Partners

Employees

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