Forms of Business Organisation

The form of business organization that has the largest sales volume is the:

• Cooperative

• Corporation

• Sole Proprietorship

• Partnership

A business ownership capitalization divided into hundreds or thousands of transferable shares of stock and must have at least five owners or investors.

• Cooperatives

• Sole Proprietorship

• Corporation

• Partnership

A business that is owned by one person.

• Partnership

• Sole Proprietorship

• Corporation

• Cooperatives

To be a proprietor:

• One must put up a certain capital investment for the purpose of making profit.

• One must have a fixed place of business.

• One must be engaged in a business of trading or merchandising.

• One must have partners or co-investors.

A form of business has two or more owners bind themselves to contribute money, property, or industry into a common fund with the intention of dividing profits among themselves.

• Corporation

• Cooperatives

• Sole Proprietorship

• Partnership

It is a business owned by one person. It is easy to set up and is the least costly among all forms of ownership. Commonly referred to as the entrepreneur, proprietor or owner. The owner has full control/authority of its own and owns all the assets, as well as personally answers all liabilities or losses.

• Cooperative

• Sole Proprietorship

• Cooperative

• Corporation

A sole proprietorship is taxed only once.

• True

• False

A contract whereby two or more persons bind themselves to contribute money,   property, or industry into a common fund with the intention of dividing profits   among themselves.

• Cooperative

• Partnership

• Sole Proprietoship

• Corporation

What is the main disadvantage of being a sole proprietorship?

• Limited skills

• Unlimited liability

• High start up costs

• None of the choices

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.

• Corporation

• Sole Proprietorship

• Partnership

• Cooperative