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WorksheetsBusiness Organizations and Franchising with Circular Flow Quiz
Total questions: 32
Worksheet time: 5mins
Which type of business is owned and operated by a single individual?
Partnership
Sole Proprietorship
Corporation
Cooperative
A legal entity that is owned by shareholders and operates separately from its owners is called:
Partnership
Sole Proprietorship
Corporation
Franchise
What type of business organization is owned by its members for mutual benefit?
Corporation
Cooperative
Sole Proprietorship
Multinational
Which of the following best describes a franchise?
A business where ownership is tradable through the stock exchange
A business model where a franchisor licenses its brand to a franchisee
A legal entity owned by two or more people
An international company operating in multiple countries
Which organization oversees the protection of stockholders' rights in corporations?
Department of Trade and Industry (DTI)
Securities and Exchange Commission (SEC)
Bureau of Internal Revenue (BIR)
Cooperative Development Authority (CDA)
A company that operates in multiple countries is referred to as:
Cooperative
Multinational
Sole Proprietorship
Conglomerate
A sole proprietorship is the easiest form of business to establish.
true
false
Partnerships are protected by the Securities and Exchange Commission (SEC).
true
false
A corporation can raise capital through the stock exchange.
false
true
Consumers of cooperatives are not considered its members.
false
true
Credit unions are an example of cooperatives.
true
false
A sole proprietor has limited liability for the debts of the business.
Franchising involves using a franchisor’s brand and operating methods.
Ownership in a corporation can be traded on the stock exchange.
A conglomerate operates within a single industry.
A franchisee receives a proven business formula from the franchisor.
true
false
Which of the following is NOT a form of business organization?
Sole Proprietorship
Corporation
Multinational
Partnership
What is one of the main advantages of franchising?
Full ownership of the brand
Higher risk of failure
Access to a proven business model
Limited market presence
Which business organization allows ownership to be easily traded on the stock exchange?
Partnership
Corporation
Sole Proprietorship
Cooperative
What does the circular flow economy demonstrate?
The relationship between imports and exports
How money and resources move in an economy
The development of government policies
Methods of calculating GDP
In the circular flow model, which of the following are considered households?
Families that only consume goods
Individuals who sell resources and buy products
Only people who work in government jobs
Owners of large corporations
A cooperative organization is primarily owned by:
Its stockholders
Its members or consumers
The government
A single proprietor
In the circular flow model, businesses interact with households through:
Resource and product markets
Taxation systems
Political lobbying
International trade agreements
Which of the following is a disadvantage of sole proprietorship?
Easy to establish
Limited liability
Unlimited liability
Simple management structure
A corporation is dissolved when one of its owners dies.
True
False
Franchising in the Philippines is considered one of the most profitable business models.
True
False
In the circular flow economy, the government does not participate in the exchange of goods and services.
(a)
A partnership requires at least two or more people to establish.
(a)
The resource market in the circular flow economy is where households purchase finished goods and services.
(a)
Cooperatives are owned and operated for the benefit of their members.
(a)
A franchisor gives a franchisee the right to use their brand and business techniques.
(a)
In the circular flow economy, businesses are both buyers and sellers.
(a)
