MIDTERM QUIZ NO. 01: Business Structures

MIDTERM QUIZ NO. 01: Business Structures

19 Qs

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MIDTERM QUIZ NO. 01: Business Structures

MIDTERM QUIZ NO. 01: Business Structures

Assessment

Quiz

others

Hard

Created by

Jheick Christian De Guzman

FREE Resource

19 questions

Show all answers

1.

OPEN ENDED QUESTION

30 sec • Ungraded

Name:

Evaluate responses using AI:

OFF

2.

OPEN ENDED QUESTION

30 sec • Ungraded

Year and Section:

Evaluate responses using AI:

OFF

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. What is the simplest and least formal type of business structure?
Partnership
Limited Liability Corporation
Corporation
Sole Proprietorship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. Which government registration is required for a Sole Proprietorship to protect the business name?
Bureau of Internal Revenue Registration
Certificate of Business Registration
Business Permit / Mayor's Permit
Department of Trade and Industry Registration

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. In a Partnership, what kind of liability do general partners have for the debts and obligations of the company?
Limited Liability
Partial Liability
Unlimited Liability
No Liability

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many shareholders are required to own a Corporation in the Philippines?
5
4
15
10

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. What is the legal concept that the Philippines does not adopt, but a Domestic Corporation serves as its closest local equivalent?
Private Limited Corporation
Partnership
Limited Liability Company (LLC)
Corporation

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