Forms of Business Organization

• What do you call a business organization owned by one person?

  Sole proprietorship
• What do you call a business organization wherein many small businesses start in this type?

  Sole proprietorship
• Who can own the entire business such as its assets and profits?

  sole proprietor
• what type of business organization is shared by two or more members?

  partnership
• who mutually agree as to how decisions will be made?

  Partners
• What are the two types of partnership?

  General and Limited
• What refers to having unlimited liability for the debts and obligations of the partnership?

  General Partnership
• What refers to having limited partners that only have liability that is up to the amount equal to their capital contributions?

  Limited partnership
• What business organization can be either government-owned or private owned?

  corporation
• What business organization can organize either for profit or non-profit organization?

  Corporation
• How many minimum owners do corporations require?

  5
• How many maximum owners do corporations require?

  15
• What do you call the owner of the corporation?

  Shareholders
• What requires more time and money than other forms of organization?

  Incorporation
• what does RCC stands for?

  Revised Corporation Code of the Philippines
• Who signed the RCC on Feb 20 2019?

  President Rodrigo Duterte 
• what remove  the absolute requirement of having a minimum of 5 individuals in the formation of corporations?

  RCC
• What law allows the establishment of a one-person corporation or OPC?

  RCC
• What does LLC stands for?

  Limited Liability Corporation
• What business organization Is a limited liability business that can organize for-profit or not-for-profit?

  cooperative
• What is a business organization owned by a group or individual and operated for mutual benefit?

  Cooperatives