Activity 3: Please, Know Me!
Directions: Analyze whether the sentence/ word is referred to as a Sole
Proprietorship, Partnership, or a Corporation.
1. A type of business that is owned and managed by 2 or more
owners.
2. Owns all the assets of his/her business and personally shoulders
all liabilities and losses.
3. Stronger potential to access to greater amounts of capital.
4. Flexible in providing capital
5. Ownership can be transferred by selling its stocks
6. Least costly among the forms of ownership
7. Limited liability
8. Low operational overhead
9. Developing partnership agreements is required in forming this
business.
10. A form of business mainly composed of 5 to 15 incorporators.
11. Board of Directors
12. Limited and General Partners
13. Has a complete control and authority of its own.
14. Its registration is through the Bureau of Trade Regulation and
Consumer Protection (BTRCP) of the Department of Trade and
Industry (DTI).
15. A juridical entity that registered with the Securities and Exchange
Commission generally composed of maximum of 15 qualified and
trusted individuals.
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Explanation:
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