Forms of Business Organizations
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Questions and Answers

Which form of business organization is owned by one person?

  • Corporation
  • Cooperative
  • Partnership
  • Sole Proprietorship (correct)

    • Which form of business organization is most common in the Philippines?

  • Cooperative
  • Sole Proprietorship (correct)
  • Partnership
  • Corporation

    • Which form of business organization allows the owner to personally manage the business?

  • Partnership
  • Corporation
  • Cooperative
  • Sole Proprietorship (correct)

    • What are some examples of businesses that typically belong to the single proprietorship form of business organization?

    <p>Retailers</p> Signup and view all the answers

    What are the advantages of a sole proprietorship?

    <p>Ease of formation</p> Signup and view all the answers

    Which of the following is a characteristic of a limited partnership?

    <p>All partners are liable to creditors.</p> Signup and view all the answers

    What is a requirement for the formation of a limited partnership?

    <p>There must be formalities to comply with.</p> Signup and view all the answers

    Which of the following statements is true about a limited partner in a limited partnership?

    <p>A limited partner's interest is not freely assignable.</p> Signup and view all the answers

    What is the main difference between a general partner and a limited partner in a limited partnership?

    <p>A general partner is liable to creditors, while a limited partner is not.</p> Signup and view all the answers

    What is a characteristic of a limited partner's interest in a limited partnership?

    <p>It cannot be freely assigned.</p> Signup and view all the answers

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