Bigyan ng Quiz 'Yan!

Among the following, which should be considered by entrepreneurs when examining different forms of business organizations?

• How easily the form of business organization can be implemented

• Amount of capital required

• Legal Considerations

• All of the above

What is an advantage of Sole Proprietorship?

• Unlimited Liability

• Ease of Formation

• Relatively difficulty in obtaining long-term financing

• None of the above

TRUE or FALSE. Sole proprietorship is the most widely used legal form of organization.

• TRUE

• FALSE

Who bears the sole responsibility for the debts and obligations in a sole proprietorship?

• Shareholders

• Partners

• Owners

• Family

In a Partnership, each partner contributes ____, ____, ____, ____, and each has a share in the profits as well as the losses of the business.

• Money

• Property

• Labor

• Skills

TRUE or FALSE. Written articles of partnership are not usually executed and recommended.

• TRUE

• FALSE

What are the different disadvantages of Partnerships?

• Lack of Continuity

• Flexibility

• Bound by the acts of just one partner

• Unlimited liability of at least one partner

In the Philippines, which of the following is an example of a Corporation?

• Jollibee Foods

• Willie’s Sari-Sari Store

• Rodriguez & Partners Law Firm

TRUE or FALSE. Ownership can be transferred through the sale of stock to interested buyers.

• TRUE

• FALSE

Corporations that do business in more than one country must (a)   with laws that cover foreign corporations.