PRE-TEST_TRUE OR FALSE

Business is a passive process.

• TRUE

• FALSE

Tax preparation is more difficult in a sole proprietorship than in a corporation.

• TRUE

• FALSE

A corporation is a separate entity distinct from all the owners.

• TRUE

• FALSE

Your liability as a shareholder is only limited to the amount of your investment

• TRUE

• FALSE

A partnership may generate funds through selling shares of stocks.

• TRUE

• FALSE

A corporation may be owned by one person

• TRUE

• FALSE

Handling money for a sole proprietorship is easier than partnership.

• TRUE

• FALSE

Book stores and sari-sari stores fall under the service businesses category.

• TRUE

• FALSE

Manufacturing businesses include baked goods and cosmetics.

• TRUE

• FALSE

The sole proprietor can pass the business down to his/her heir.

• TRUE

• FALSE