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Forms of
Business
Organization
? YES
or
NO X
1. Sole proprietorship is
owned by two person.
2. In partnership profits
are divided among
partners based on their
agreed sharing.
3. Corporation is easy to
set-up.
4. Cooperatives is a duly
registered association of
persons with a common bond
of interest to achieve their
social, economic and cultural
needs.
5. The life of the
business in sole
proprietorship is limited
to the life of the owner
6. A partner cannot be
held liable for the acts
of the other partners.
7. A corporation can
easily raise additional
funds
8. The members of
cooperatives have active
and direct participation in
the business.
9. The life of a corporation
or cooperatives may
exceed 50 years
10. The most common
form of business
organization is the
corporation.
1. Sole proprietorship is owned by two person.
NO
? Owned by one (1) person
? The one who manage the business
is called the ¡°owner¡±
? Keep all the profits.
? The owner makes all the decisions.
2. In partnership profits are divided among
partners based on their agreed sharing.
YES
? Owned by two or more persons.
? The owner is called a partner
? The details of the arrangement are
outlined in the articles of partnership.
? Profits are divided among the partners.
3. Corporation is easy to set-up.
NO
? Complicated to set up.
? Formed at least 5 person
? Owners are called stockholders or
shareholders
? Board of Directors and operating
management manages the business
4. Cooperatives is a duly registered association of
persons with a common bond of interest to achieve
their social, economic and cultural needs.
YES
? Promotes the concept of sharing resources
? Owners are called members
? Board of Directors and operating
management manages the business
? Formed by 15 or more person.
5. The life of the business in sole
proprietorship is limited to the life of the owner
YES
? The business and the owner are
inseparable
6. A partner cannot be held liable for the acts
of the other partners.
NO
? partner can be held liable for the acts
of the other partners
7. A corporation can easily raise additional
funds.
YES
? by selling shares of
stocks to the public.
? Proof of ownership is
evidenced by a stock
certificate.
8. The members of cooperatives have active
and direct participation in the business.
YES
? members are expected to patronize
their products and services.
? Requires continuous education
programs for members.
9. The life of a corporation or cooperatives
may exceed 50 years
NO
? As stated in the Articles of
Incorporation / cooperation, not to
exceed 50 years.
10. The most common form of business
organization is the corporation.
NO
? Sole proprietorship is the most
common and simplest form of business
organization.
What form of
business organization
is the BEST?
Fill out the table
Statement Sole Proprietorship Partnership Corporation Cooperatives
Number of owners
Who manage the business
Termination of the business
Advantages
Disadvantages

More Related Content

4. forms of business organization 1

  • 3. 1. Sole proprietorship is owned by two person.
  • 4. 2. In partnership profits are divided among partners based on their agreed sharing.
  • 5. 3. Corporation is easy to set-up.
  • 6. 4. Cooperatives is a duly registered association of persons with a common bond of interest to achieve their social, economic and cultural needs.
  • 7. 5. The life of the business in sole proprietorship is limited to the life of the owner
  • 8. 6. A partner cannot be held liable for the acts of the other partners.
  • 9. 7. A corporation can easily raise additional funds
  • 10. 8. The members of cooperatives have active and direct participation in the business.
  • 11. 9. The life of a corporation or cooperatives may exceed 50 years
  • 12. 10. The most common form of business organization is the corporation.
  • 13. 1. Sole proprietorship is owned by two person. NO ? Owned by one (1) person ? The one who manage the business is called the ¡°owner¡± ? Keep all the profits. ? The owner makes all the decisions.
  • 14. 2. In partnership profits are divided among partners based on their agreed sharing. YES ? Owned by two or more persons. ? The owner is called a partner ? The details of the arrangement are outlined in the articles of partnership. ? Profits are divided among the partners.
  • 15. 3. Corporation is easy to set-up. NO ? Complicated to set up. ? Formed at least 5 person ? Owners are called stockholders or shareholders ? Board of Directors and operating management manages the business
  • 16. 4. Cooperatives is a duly registered association of persons with a common bond of interest to achieve their social, economic and cultural needs. YES ? Promotes the concept of sharing resources ? Owners are called members ? Board of Directors and operating management manages the business ? Formed by 15 or more person.
  • 17. 5. The life of the business in sole proprietorship is limited to the life of the owner YES ? The business and the owner are inseparable
  • 18. 6. A partner cannot be held liable for the acts of the other partners. NO ? partner can be held liable for the acts of the other partners
  • 19. 7. A corporation can easily raise additional funds. YES ? by selling shares of stocks to the public. ? Proof of ownership is evidenced by a stock certificate.
  • 20. 8. The members of cooperatives have active and direct participation in the business. YES ? members are expected to patronize their products and services. ? Requires continuous education programs for members.
  • 21. 9. The life of a corporation or cooperatives may exceed 50 years NO ? As stated in the Articles of Incorporation / cooperation, not to exceed 50 years.
  • 22. 10. The most common form of business organization is the corporation. NO ? Sole proprietorship is the most common and simplest form of business organization.
  • 23. What form of business organization is the BEST?
  • 24. Fill out the table Statement Sole Proprietorship Partnership Corporation Cooperatives Number of owners Who manage the business Termination of the business Advantages Disadvantages