Directions: Analyze each sentence below and write whether it is True or False. Write your answers on a separate sheet of paper. 1. Business is a passive process. 2. Tax preparation is more difficult in a sole proprietorship than in a corporation. 3. A corporation is a separate entity distinct from all the owners. 4. Your liability as a shareholder is only limited to the amount of your investment. 5. A partnership may generate funds through selling shares of stocks. 6. A corporation may be owned by one person. 7. Handling money for a sole proprietorship is easier than partnership. 8. Book stores and sari-sari stores fall under the service businesses category. 9. Manufacturing businesses include baked goods and cosmetics. 10. The sole proprietor can pass the business down to his/her heir. 11. A sole proprietorship needs higher start-up costs. 12. Partnership business lacks formality compared with managing a limited company or corporation. 13. Profit is the difference between the amount received and the amount spent on something purchased, produced, or manufactured. 14. Merchandising businesses turn basic inputs into products which are sold to consumers. 15. In a sole proprietorship, the owner decides alone.
Answers 1
Answer:
1.False
2.False
3.True
4.True
5.False
6.False
7.True
8.False
9.True
10.True
11.False
12.True
13.True
14.False
15.True
Explanation:
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