Accounting 2 finals

Business organization formed by oral or written agreement

• Sole proprietorship

• Corporation

• Partnership

• None of the choices

A business organization formed by operation of the law

• Sole proprietorship

• Corporation

• Partnership

• None of the choices

It gives the corporation all the rights and responsibilities of a person except those which can be exercised only by natural persons

• Mutual agency

• Separate legal entity

• Unlimited liability

• None of the choices

Corporations which are formed for private purposes

• Private corporations

• Domestic corporation

• Public corporations

• Close corporation

Corporations which are formed for governmental purposes

• Private corporations

• Domestic corporation

• Public corporations

• Close corporation

Corporations created by Philippine law

• Private corporations

• Domestic corporation

• Public corporations

• Close corporation

Corporations created by laws of other countries

• Private corporations

• Domestic corporation

• Public corporations

• Foreign corporation

Corporations the ownership of which is divided into shares of stocks

• Private corporation

• Stock corporations

• Quasi-public corporations

• Public corporation

Corporations engaged in rendering public services

• Private corporation

• Stock corporations

• Quasi-public corporations

• Public corporation

Corporations that do not issue shares of stocks

• Non-stock corporation

• Stock corporations

• Quasi-public corporations

• Public corporation