2118122, 3:26 PM B-ENTROOO BCS22 ‘st Sem {2022-2028 } New - iis lsus.04120.orqstudenttake_qul2_assignmentistart’37000176 Home B-ENTRO000 BCS22 1st Sem ( 2022-2023 ) New Summative Assessment 3 End of quiz You are at the end; press Finished to complete and grade the quiz. You can review your answers below and click Edit if you want to change any. Question 1 Heavy use of debt can promote growth and development of the venture. Response: False Question 2 The most common form of business ownership. Response: Sole proprietorship Question 3 It refers to a secured financing of a venture that involves a payback of funds plus interest. hitpsdlsud.0du.20orgltucent_take_quiz_assignmenlstar/37000176 7‘2718722, 926 PM B-ENTROOO BCS2? ‘31 Sem (2022-2023 New hips sus. 0420.orlstudentake_quz_sssignmentstar!37000176 Response: Debt financing Question 4 It is a financial statement that shows the financial wealth of the business. Response: Balance sheet Question 5 The requirements for a new business permit are as follows except: Response: Articles of corporation Question 6 Sole proprietorship should be registered at the Department of Trade and Industry. Response: True Question 7 Sole proprietorship has no separate legal personality apart from its owner. Response: True Question 8 It refers to a business process and/or information that cannot be patented, copyrighted or trademarked but makes a company unique and has value to its competitor. Response: Trade secret Question 9 The duration of a copyright is 70 years. Response: True Question 10 ‘You need to register the business name of a corporation at the Securities and Exchange Commission. Response: True Question 11 Equity financing involves the sale of some of the ownership in the venture, htpssidlsud.0du.20 orglstudent_take_quiz_assignmenvstarl37000176 214‘2718722, 926 PM B-ENTROOO BCS2? ‘31 Sem (2022-2023 New hips sus. 0420.orlstudentake_quz_sssignmentstar!37000176 Response: True Question 12 The advantages of sole proprietorship include the following except: Response: Access to more capital Question 13 Partnerships should be registered at the Cooperative Development Authority. Response: True Question 14 A corporation has a legal personality separate from its owners. Response: True Question 15 Equity financing has fixed obligation to repay the capital Response: False Question 16 Short-term borrowing is often used to obtain working capital Response: True Question 17 It is a financial statement that shows the profit or loss of the business. Response: Income statement Question 18 Copyright applies to music and published materials. Response: True Question 19 It is advisable to always do a trademark research before choosing a name or mark. Response: True htpssidlsud.0du.20 orglstudent_take_quiz_assignmenvstarl37000176 a412018122, 326 PM B-ENTROOO BCS22 ‘st Sem {2022-2028 } New - ips lsus.04120.orqstudent_take_qulz_assignmentistart’37000176 Question 20 It provides exclusive rights to creative individuals for the protection of their literary or artistic works Response: Copyright Question 21 Reproduction of a copyright work for classroom or teaching purposes is a violation of the copyright. Response: False Question 22 The fastest and cheapest way to start a business is through franchising, Response: False Question 23 It refers to the exclusive rights of the owner to hold, transfer, and license the production and sale of a product or process as an intellectual property. Response: Patent Question 24 It refers to a distinctive name, mark, symbol or motto identified with a company's product that is duly registered. Response: Trademark Question 25 It is a financial statement that shows the profit or loss of the business. Response: Income statement htpssidlsud.0du.20 orglstudent_take_quiz_assignmenvstarl37000176 4