Individual Worksheets

Introduction to Business Organization and Partnership

Name: _____________________ Score: ______________

Course & Year: _____________________ Date: ______________
Block: _____________________ Worksheets No: ______1_____

TASK 1
Enumeration: Enumerate the following
A. The essential provision of Partnership agreement.
1. ________________________________________________________________________
2. ________________________________________________________________________
3. ________________________________________________________________________
4. ________________________________________________________________________
5. ________________________________________________________________________
6. ________________________________________________________________________
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8. ________________________________________________________________________
9. ________________________________________________________________________
B. Classification of Partnership
1. _______________________________________________________
a. _________________________________________________
b. _________________________________________________
2. _______________________________________________________
a. _________________________________________________
b. _________________________________________________
3. _______________________________________________________
a. _________________________________________________
b. _________________________________________________
4. ________________________________________________________
a. _________________________________________________
b. _________________________________________________
5. _______________________________________________________
a. ________________________________________________
b. ________________________________________________
C. Partnership distinguished from Corporation
1. ______________________________________________________
2. ______________________________________________________
3. ______________________________________________________
4. ______________________________________________________
5. ______________________________________________________
6. ______________________________________________________
7. ______________________________________________________
D. Kind of Partners and its liability
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3. ________________________________________________________________________
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5. ________________________________________________________________________
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 8. ________________________________________________________________________
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E. Essential Features of a Partnership
1. ________________________________________________________________________
2. ________________________________________________________________________
3. ________________________________________________________________________
4. ________________________________________________________________________
5. ________________________________________________________________________
F. Advantages and disadvantages of a Partnership
a. Advantages versus Proprietorships
1. _________________________________________________________________
2. _________________________________________________________________
3. _________________________________________________________________
b. Advantages versus Corporations
1. _________________________________________________________________
2. _________________________________________________________________
c. Disadvantages
1. _________________________________________________________________
2. _________________________________________________________________
3. _________________________________________________________________
TASK 2
Essay: Discuss the following briefly.
1. Define Partnership
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2. Define Sole Proprietorship.
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3. Distinguished Partnership in comparison with sole proprietorship.
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4. What is meant by mutual agency and unlimited liability?
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5. Differentiate a partnership from a corporation
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6. Identify the kinds of partnership as to object, liability, duration, purpose and
legality of existence.
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7. Discuss the concept of limited liability partnership.
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 8. How do dormant, secret and silent partners differ from one another?
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9. Differentiate a capitalist from an industrial partner.
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10. Differentiate a general from a limited partner.
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TASK 3
Discuss the meaning and importance.
1. SEC - ________________________________________________________________________

2. DTI - _________________________________________________________________________

3. CDA - _______________________________________________________________________

4. BIR - _________________________________________________________________________

5. Business Permit - ______________________________________________________________

6. Articles of Partnership and By – Laws - _________________________________________

7. BOD -________________________________________________________________________

8. Minutes of the Meeting - _____________________________________________________

9. SSS - _________________________________________________________________________

10. HDMF - ______________________________________________________________________