1. Penetrante owns and operates a large hardware store in Cabanatuan City that employs about forty-five personnel. She delegates some of the decision making to NAME: SECTION: SCORE: PROFESSOR: Multiple Choice two supervisors. Penetrante's business is organized as a a. corporation. b. partnership c. sole proprietorship. d. limited partnership. 2. Jumawan loves to cook. She receives unqualified praise whenever she prepares a meal for someone. Encouraged by these compliments and eager to put her culinary talents to good use, Jumawan decides to open a boutique restaurant in Dumaguete City. Since she plans to maintain complete control of the business, she will most likely organize it as a a. limited partnership. b. corporation. c. general partnership. d. sole proprietorship. 3. A budding entrepreneur wants to start a business but is unsure of the legal form suited for her. Short of cash, she has to take the form that is least expensive and most flexible in terms of decision making and implementation. Which would you recommend? a. Joint venture b. Partnership C. Sole proprietorship d. Cooperative e Corporation 4. Unlimited liability means a. there is no limit on the amount an owner can borrow. b. creditors will absorb any loss from nonpayment of debt. c. the business can borrow money for any type of purchase. d. the owner is responsible for all business debts. e. shareholders can borrow money from the business