WorksheetsBigyan ng Quiz 'Yan!
Total questions: 10
Worksheet time: 6mins
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.
