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WorksheetsNature, Objectives, and Principle of the Business
Total questions: 10
Worksheet time: 3mins
This business organization has a single owner called the proprietor or owner.
Partnership
Sole Proprietorship
Corporation
Cooperative
It is a business owned or operated by two or more persons who bind themselves to contribute money, property, and industry to a common fund, with the intention of dividing the profits among themselves.
Partnership
Sole Proprietorship
Corporation
Cooperative
It is an artificial being created by the operation of law, having the rights of succession and the powers, attributes, and properties expressly authorized by law and incident to its existence.
Partnership
Sole Proprietorship
Corporation
Cooperative
It is a people-centered enterprises owned, controlled, and run by and for their members to realize their common economic, social, and cultural needs and aspirations.
Partnership
Sole Proprietorship
Corporation
Cooperative
A business that performs task to the customer.
Merchandising Business
Manufacturing Business
Service Business
Financing Business
A business that converts raw materials into finished goods.
Merchandising Business
Manufacturing Business
Service Business
Financing Business
It is a business that purchases finished products and resells them to consumers.
Merchandising Business
Manufacturing Business
Service Business
Financing Business
All of the following are the advantages of sole proprietorship, except:
Easy formation
Prompt decision
Easy dissolution
Limited liability
Which of the following is not a key principle of business?
Leadership
Reputation
Vision
Mission
Which of the following is included as economic objective of the business?
To improve brand and reputation
To protect environment by limiting corporate carbon footprint
Profit earning
To provide safer and more health-conscious working environments
