BUSINESS ORGANIZATIONS

Question 1

the manager is also the owner

Answer 1

sole or single proprietorship

Question 2

two or more individuals bind themselves to contribute money, property, talent or industry to a common fund, with the intention dividing the profits among themselves

Answer 2

partnership

Question 3

autonomous and unduly registered association of persons with a common bond of interest who have voluntarily joined together to achieve their social economic, and cultural needs

Answer 3

cooperative

Question 4

a business organization that can either be a stock or non-stock

Answer 4

corporation

Question 5

classification of partnership where the partners contribute all their property into a common fund with the intention of dividing it among themselves

Answer 5

universal partnership

Question 6

classification of partnership that is established over determinate thing, its use or fruits, for the accomplishment of a specific undertaking

Answer 6

particular partnerships

Question 7

type of cooperative that is usually draws its members from the general public formed to produce goods for resale to members

Answer 7

consumer’s cooperatve

Question 8

cooperative that draws its membership chiefly from the producers of grains, and other farm products, in order to enable their members to buy supplies at wholesale, eliminating the middleman’s profit

Answer 8

producer’s cooperative

Question 9

cooperative that is organized primarily to centralize the purchase of inputs needed by producer members as well as the selling of produce of members

Answer 9

marketing cooperative

Question 10

cooperative that is also known as credit cooperative that makes it possible for people of small means to acquire a home and to borrow money for other purposes at relatively low rates of interest especially to its members

Answer 10

financing cooperative

Question 11

cooperative that is engaged in the provision of services which members avail of

Answer 11

service cooperative