Business

Organizations
AC 122

1
 Business Organizations
◺ Business organizations plays a huge part in the
economy. It provides the needs, wants and demands of
the economy.

◺ Businesses have an important partnership with the

government.

◺ Business also provides investments, employment and

social responsibility. 2
* Students to provide examples and discuss
 Business Organizations

3
* Students to provide examples and discuss
 Forms of Business Organizations

◺ Single or Sole Proprietorship

◺ Partnership
◺ Corporation
◺ Cooperatives

4
* Students to provide examples and discuss
 Forms of Business Organizations
◺ Single or Sole Proprietorship

5
* Students to provide examples and discuss
 Forms of Business Organizations
◺ Single or Sole Proprietorship
◺ Is a form of business owned by a single person
◺ The owner is known as the proprietor
◺ A sole proprietor can work as an independent
contractor or operate a small business in any
industry

6
* Students to provide examples and discuss
 Forms of Business Organizations
◺ Common Single or Sole Proprietor business

Bookkeeping business Catering

Home health care Housecleaning services
Financial planner Freelance writer
Landscaping Tutoring services
Computer repairs services Virtual assistant

7
* Students to provide examples and discuss
 Business Start-up for a Sole Proprietorship
◺ Register the business name with DTI
◺ Pay municipal license (business permit)
◺ Apply for a VAT or non-VAT number with the BIR
◺ Register with the BIR the books of accounts and the
business forms (sales invoices, O.R., delivery receipts,
and etc.

8
* Students to provide examples and discuss
 Forms of Business Organizations
◺ Single or Sole Proprietorship positive effects
◺ Easy to organize because it involves few business
requirements
◺ Freedom in terms of decision making
◺ Financial operations are not complicated
◺ Proprietor acquires all the profits

9
* Students to provide examples and discuss
 Forms of Business Organizations
◺ Single or Sole Proprietorship negative effects
◺ Limited ability to raise capital
◺ Proprietor has unlimited liability (risk of personal
assets such as land, bank deposits and properties)
◺ Limited ability to expand
◺ Business is entirely a responsibility of the owner

10
* Students to provide examples and discuss