10 Questions
What is the first clearance that a business is required to obtain before operating in a locality?
Barangay clearance
What does a partnership need to add to its name if it is a limited partnership?
'Limited'
In a general partnership, who is liable to all those with claims against the partnership?
All partners collectively
What serves as the enterprise TIN for a sole proprietorship according to the text?
Tax Identification Number (TIN) of the entrepreneur
How many persons are required to constitute a partnership according to the text?
Minimum of two persons
What are the components of current assets mentioned in the text?
Cash, inventory, accounts receivables
Which type of assets are property, plant, and equipment classified as in the text?
Long-lived or fixed assets
In the context of capital structure, what is the role of owner's equity?
Financing the assets of the enterprise
What distinguishes a sole proprietorship according to the text?
Separation between the owner and the enterprise
Why does a sole proprietor incur all the risks according to the text?
Due to personal accountability and control
Learn about the assets involved in estimating the capital required by an enterprise for business planning. Current assets, fixed assets, and other assets all play a crucial role in determining the investment needed for a business.
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