Podcast
Questions and Answers
What is the first clearance that a business is required to obtain before operating in a locality?
What is the first clearance that a business is required to obtain before operating in a locality?
- Barangay clearance (correct)
- Fire safety clearance
- Department of Trade and Industry (DTI) certificate
- Certificate of occupancy
What does a partnership need to add to its name if it is a limited partnership?
What does a partnership need to add to its name if it is a limited partnership?
- 'Restricted'
- 'Unlimited'
- 'General'
- 'Limited' (correct)
In a general partnership, who is liable to all those with claims against the partnership?
In a general partnership, who is liable to all those with claims against the partnership?
- General partners only
- All partners collectively (correct)
- Limited partners only
- One designated partner
What serves as the enterprise TIN for a sole proprietorship according to the text?
What serves as the enterprise TIN for a sole proprietorship according to the text?
How many persons are required to constitute a partnership according to the text?
How many persons are required to constitute a partnership according to the text?
What are the components of current assets mentioned in the text?
What are the components of current assets mentioned in the text?
Which type of assets are property, plant, and equipment classified as in the text?
Which type of assets are property, plant, and equipment classified as in the text?
In the context of capital structure, what is the role of owner's equity?
In the context of capital structure, what is the role of owner's equity?
What distinguishes a sole proprietorship according to the text?
What distinguishes a sole proprietorship according to the text?
Why does a sole proprietor incur all the risks according to the text?
Why does a sole proprietor incur all the risks according to the text?
