business ethics

Question 1

what are the two basis of business?

Answer 1

needs and wants

Question 2

it is an activity that is part or parcel of human society and it is an integral part of the society.

Answer 2

business

Question 3

what are the major activities in business?

Answer 3

purchasing, manufacturing, marketing, advertising, selling, and accounting

Question 4

what are the 4 types of business organizations?

Answer 4

sole proprietorship, partnership, cooperative, cooperation

Question 5

it is a business organization where the manager is also the owner.

Answer 5

sole or single proprietorship

Question 6

it is a business organization where two or more individuals bind themselves to contribute money, property, talent, or industry, to a common fund, with the intention dividing the profits among themselves.

Answer 6

partnership

Question 7

it is an autonomous and duly registered association of persons with a common bond of interest who have voluntarily joined together to achieve their social, economic, and cultural needs and aspirations by equitable contributions patronizing products and services and accepting fair share of risks and benefits.

Answer 7

cooperative

Question 8

it is a business organization that can either be a stock or non-stock

Answer 8

corporation

Question 9

5 kinds of cooperative

Answer 9

consumer’s, producer’s, marketing, financing, service cooperative

Question 10

it is a kind of cooperative that usually draws its members from the general public formed to produce goods for resale to members

Answer 10

consumer’s cooperative

Question 11

it is a kind of cooperative that draws its membership chiefly from the producers of grains, and other farm products, in order to enable their members to buy supplies at wholesale, eliminating the middleman

Answer 11

producer’s cooperative

Question 12

it is a kind of cooperative that is organized primarily to centralize the purchase of inputs needed

Answer 12

marketing cooperative

Question 13

it is other known as credit cooperative that makes it possible for people of small means to acquire

Answer 13

financing cooperative

Question 14

it is a kind of cooperative that engaged in the provision of services which members avail of

Answer 14

service cooperative

Question 15

it is usually concerned simply with the business aspect or how can activities be arranged and organized in such a ways that guarantees profit

Answer 15

businessperson

Question 16

it is more concerned with the insight aspect or how new and private ideas can be applied so that it may have more social utility of an enterprise

Answer 16

entrepreneur

Question 17

it is someone who owns enough productive assets; passive recipient of the fruits of the toils of other stakeholders in the business activity

Answer 17

capitalist

Question 18

classification of partnership as to object where the partners contribute all their property into a common fund with the intention of dividing it, as well as its profits among themselves

Answer 18

universal partnership

Question 19

classification of partnership as to object where it is established over determinate thing, its use or fruits, for the accomplishment of a specific undertaking, or the exercise of a profession.

Answer 19

particular partnership

Question 20

this business organization is easy to start and to terminate and there is a small amount of capital required in starting. it also has a high credit standing

Answer 20

sole or single proprietorship

Question 21

this business org has limited amount of capital, can face difficulties of management, and has unlimited liability

Answer 21

sole or single proprietorship

Question 22

this business org can easily be formed and has access to greater/better credit facilities. combined ability and resources of partners are a source of strength

Answer 22

partnership

Question 23

this business org has unlimited liability, easy dissolution, and frozen investment

Answer 23

partnership

Question 24

this business org provide goods and services to the members at less cost. it has legal entity and small capital is needed.

Answer 24

cooperative

Question 25

this business org can face difficulty in making decision, has limited liability, and prone to non-payment of loan

Answer 25

cooperative

Question 26

this business org has ease of acquiring a large amount of capital, felxible ownership, limited liability of stockholdrs, legal entity

Answer 26

corporation

Question 27

this business org can face organizational expense, government restrictions and reports, lack of secrecy, double taxation

Answer 27

corporation