Name_______ Score:__________

Assessment

Direction: Answer T If statement is correct if the statement is incorrect answer it F.

1. ___ Both Corporation and Partnership has a Juridical Personality.

2. ___ The life of Corporation is perpetuity because of right of succession.
3. ___ Single Proprietorship is the simplest form among the business organization.
4. ___ In organizing Cooperative, you need to need to get registration to Cooperative development authority.
5. ___ Every Partner is an agent to partnership.
6. ___ single Proprietorship is not entitled to all profits and losses in business.
7. ___ Partnership is governed by Corporation Code of the Philippines.
8. ___Registered books of account is issued by business licensing office.
9. ___ Accounting period pertains to dividing the profit among themselves.
10. ___ Corporation has limited life and can be easily dissolve.

Part 2. Differentiate the 4 types of Business Organization.