I. Write TRUE if the statement is correct, write FALSE if the statement is incorrect.

_1. Countries have the same laws that may ascribe different rights to the various business entities.

_2. The goal of business is for sales to be more than expenditures resulting in a profit.

_3. A grocery store is an example of a service business.

II. Answer the following questions:

1. If you were to establish your own business, what kind of business and what would be your reason or purpose?

2. In what form of business organization (Sole Proprietorship, Partnership, Corporation, and Cooperative) would it fall?

3. How will you manage your organization and employee? what kind of motivation will you give to them?