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Week 1

This document provides information about different types of businesses and business organizations. It defines sole proprietorships, partnerships, and corporations. It also lists examples of businesses still operating during quarantine like hospitals, fast food chains, grocery stores, and delivery services. There are assessment activities where the reader identifies the business organization being described or chooses the correct answer about sole proprietorships, partnerships, and corporations.

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Van Dahuyag
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© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
1K views

Week 1

This document provides information about different types of businesses and business organizations. It defines sole proprietorships, partnerships, and corporations. It also lists examples of businesses still operating during quarantine like hospitals, fast food chains, grocery stores, and delivery services. There are assessment activities where the reader identifies the business organization being described or chooses the correct answer about sole proprietorships, partnerships, and corporations.

Uploaded by

Van Dahuyag
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

What I Know

I. Fill in the blanks.


Instructions: Below are the definitions of business and organization. Write BUSS if it describes a business and
ORG if it describes an organization.

1. BUSS is an activity of exchanging goods and services, for gaining profit.


2. ORG is a group of people who work together to achieve common goals.
3. ORG is a collection of people with particular purpose in the society.
4. BUSS is an organization where goods and service are exchange for one another or for money.
5. ORG social unit of people that is structured and managed to meet a need or to pursue collective
goals.

What’s In

Activity 1: Business as usual.


Nowadays, many businesses are closed due to the COVID -19 pandemic and only those businesses which
are considered essential such as food businesses and medical services remained.

Can you list down the name/s of business/es which is/are still in operation during the Quarantine
period? Identify the services/ products they offer.

NAME OF BUSINESS PRODUCTS/SERVICES OFFERED


1. SANITARIUM HOSPITAL emergency care, scheduled surgeries, labor and
delivery services, diagnostic testing, lab work, and
patient education.
2. JOLLIBEE Fast-food
3. STEVE COMMERCIAL Groceries
4. MERCURY DRUG branded and generic medicines, as well as a complete
line of healthcare and personal care products,
including medical devices, and basic everyday needs.
5. J&T DELIVERY SERVICE provide fast, easy, and hassle-free shipping services
with efficiency.

What’s More

Independent Activity 1:
A. What form of a business organization is best described by the following statements? SOLE
PROPRIERTORSHIP
a) “I am the only owner of my business”
b) “I take all the risks of doing business”
c) “I keep all the profits”
B. Tony and Alex own a salon together. They share equal responsibility, and each receive 50% of the profits. What
form of business organization is this? Partnership
C. These are examples of what form of business? Corporation

Independent Assessment 2:
Choose the letter of the correct answer.
1. Which is NOT a form of business ownership?
a. Sole Proprietorship
b. Partnership
c. Corporation
d. Retail
2. Easy to start; owner is own boss; owner keeps all the profits and shoulders losses. These are some descriptions
of what type of business.
a. Sole Proprietorship
b. Partnership
c. Corporation
d. Franchise
3. What form of business consists of two or more people to carry on, as co- owners of a business for profit?
a. Sole Proprietorship
b. Partnership
c. Corporation
d. Cooperative
4. Your mother has Php 100,000. She wants to invest her money in the form of business that has the least amount
of personal liability. What form of business would you recommend?
a. Sole Proprietorship
b. Partnership
c. Corporation
d. Cooperative
5. How a corporation differs from a sole proprietorship?
a. Corporations are owned by only one person.
b. Corporations can sell stocks to large and small investors to raise money for the business.
c. Sole proprietorships have limited liability for the owners.
d. Sole proprietorships require a legal charter to start the business.

Assessment

True or False

TRUE 1. A Sole Proprietorship, owned by one person, is a form of business organization that is small, requires little
amount of capital and is readily established under the control of one person.

TRUE 2. A Partnership is a form of business in which two or more people operate for the common goal of making a
profit.

FALSE 3. A Partnership is an artificial being created by operation of law.

TRUE 4. A Sole Proprietorship has the advantage of least government regulations.

TRUE 5. A Corporation has powers, attributes, and properties expressly authorized by law.

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