LYCEUM-NORTHWESTERN UNIVERSITY

Tapuac District, Dagupan City

QUIZ # 1 in BUSINESS ETHICS & SOCIAL RESPONSIBILITY

2nd Semester, A.Y 2018-2019

Name: ______________________________________ Date and Time:___________

Strand/ Year: ________________________________ Score:__________________

I. IDENTIFICATION: On the space provided, supply the word/group of words/phrase

being described and defined. Strictly no erasures, alteration or any form of
tampering. Answers must be written in CAPITAL LETTERS and strictly no erasures.

_____________________ 1. It is a business owed by two or more persons who

bind themselves to contribute money or industry to a
common fund with the intention of dividing the profits
between themselves.

_____________________ 2. Business organization that has separate legal

personality from its owners.

_____________________ 3. A duly registered business organization owned by a

group of individuals and is operated for their mutual
benefit.

_____________________ 4. It promotes and accepts savings and lending services

among its members.

_____________________ 5. It has the main intention to buy and allocate

commodities to members and non-members.

_____________________ 6. It engages in the supply of production inputs to

members and markets their products.

_____________________ 7. It combines two or more of the business activities of

these different types of cooperatives.

_____________________ 8. They can be like other corporations or partnerships

but cannot be incorporators, although they may
subsequently purchase shares and become
corporate shareholders/stockholders.

_____________________ 9. Means that it has a personality distinct and separate

from that of its members.
_____________________ 10. One or more general partners have limited liability so
creditors cannot target their personal assets.

_____________________ 11. It is an organization that uses economic resources or

inputs to provide goods or services to customers in
exchange for money or goods and services.

_____________________ 12. Business owned by only one person who has

complete control and authority if its own.

_____________________ 13. A business that accommodates the financial

requirements of other businesses.

_____________________ 14. The process of social and economic development in

a society.

_____________________ 15. The principal purpose for opening a business is

typically __________.

II. ENUMERATION. Enumerate what is being asked. Write your answers in order, any form
of tampering will invalidate your answer.

A. What are some reasons why some people wanted to put up their business?

1.

2.

3.

4.

B. Cite ten (10) examples of some types of businesses that usually use sole
proprietorship in establishing a company. (Based on your handouts)

1.

2.

3.

4.

5.

6.

7.
8.

9.

10

C. Based on your notes, what are the advantages of a sole proprietorship?

1.

2.

3.

4.

D. List down at least seven (7) examples of corporations that have started out as small
companies and are now globally recognized as leaders in their own fields.

1.

2.

3.

4.

5.

6.

7.