Which of the following statements is true about sole proprietorship?

It refers to an arrangement in which the individuals share the profits and liabilities of a business venture.

It has a separate legal existence from its owners.

It is a type of business that sells products it purchases from other businesses to customers.

It changes basic inputs into products that are sold to customers.

Which of the following is not an advantage of the corporate form of business organization?

It has no restrictions on type of business as long as it is legal

Which of the following statements is true about accountability?

It has no low organizational cost and license fees.

Which of the following best desribes fairness?

It lacks of hidden agendas and conditions, accompanies by availability of full information required for collaboration, cooperation, and collective-decision-making.

It encompasses the ability to apply specialized knowledge or expertise.

It is the mental ability that managers must have to analyze and diagnose complex situations.

It is when a person works not only hard and solidly but also efficiently, that is, with professionalism

It is based on a combination of emotional intelligence and “ethical intelligence.

It is the obligation to demonstrate that work has been conducted in compliance with agreed rules and standards or to report fairly and accurately on performance results vis-à-vis mandated roles and/or plans.

It is a set of principles designed to guide workers to conduct themselves with honesty and integrity in all actions representing the company.

It is the law governing employment practices and labor relations in the Philippines

It is an exclusive right granted for a new, inventive, & useful product.

It is known as the Intellectual Property Code of the Philippines

It mandates the fixing of the minimum wage applicable to different sectors

It is an overall guide setting up boundaries that supply the general limit and direction in which managerial action will take place

It focuses on the character of the person and the virtues he manifests.

He concludes that the role of the leader is to create an environment in which all members of an organization can realize their potential.

He believes that virtue is identical with knowledge.

He said that “Happiness is the meaning and the purpose of life, the whole aim, and end of human existence.”

He pointed out that human choice was motivated by the desire for happiness

It simply states that “to be happy, one must live a life of moderation.” This means in everything that we do, we must avoid doing the extremes

It is a tax on specific products, such as tobacco and alcohol, and other products deemed harmful to health and the environment.

It is also known as tax dodging and it is intentional because the pro-profit company eliminates or reduces payment of its correct and proper tax by fraudulent remains

It protects literary and artistic works, such as books and other writings, musical works, films, paintings and other works, and computer programs.

It is a belief that the Moral Law is given not by an interpreter but by a lawgiver, Jesus Christ.

They believe that God works continuously in the world and affects all that people do.

It is an illegal practice of adding raw and other cheaper ingredients to excellent quality products to increase the quantity.

It is the ritual prayer and ablutions, undertaken five times a day while facing the holy city of Mecca

It is the concept of paying back a person in nonmonetary terms.

It is leaving everything to chance.

This trait is used as an excuse for being tardy in meetings, events and other social affairs, whether formal or informal.

It is the system of value in which one gets support, endorsement, or political appointment through nepotism or cronyism as opposed to one's worth.

It is Filipino trait that describes how Filipinos take care of their interpersonal relationships by agreeing to what the majority wants or by getting along with others

It refers to procrastination, or putting off for tomorrow what can be done today.

It signifies Filipinos' way of eagerness only at the beginning but then quickly losing enthusiasm soon after to continue it, or the lack of follow-up.

It is a feeling of self-esteem or self-respect that prevents a person from swallowing his or her pride.

It is defined as acting in a manner which is refined or being delicate in taste.

This is a sense of social propriety and it conforms with established cultural standards.

This so-called "market-exchange partnership" can be developed into an agreement where one can be a regular customer and supplier.

This is an individual's unwritten promise to someone to do or not to do something.

It is an act providing for a comprehensive water quality management and for other purposes

It prohibits public officials from engaging in corrupt practices, including bribery, extortion, and abuse of power.

It is known as Code of Conduct and Ethical Standards for Public Officials and Employees.