CHAPTER 6 Flashcards

(16 cards)

1
Q

Partners are personally liable for
the firm’s debts & liabilities. Unlike corporations, annual
meetings aren’t mandatory
Limited
Partnership At least one partner has unlimited liability. The other partners have limited
liability. Limited
Liability
Partnership Partners’ personal assets can’t be used to recover debts. They aren’t shielded
for personal acts.

A

General
Partnership

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2
Q

At least one partner has unlimited liability. The other partners have limited
liability

A

Limited
Partnership

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3
Q

Partners’ personal assets can’t be used to recover debts. They aren’t shielded
for personal acts

A

Limited
Liability
Partnership

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4
Q

Owners of the company

A

Shareholders

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5
Q

Run the company and are responsible for the
company’s overall management

A

Directors

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6
Q

Carry out the board of directors’ decision and handle day-to-day management of the company.

A

Officers

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7
Q

Through commercial and government banks (i.e. Land Bank of the Philippines & Development
Bank of the Philippines

A

Accessible and convenient

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8
Q

Through commercial and government banks (i.e. Land Bank of the Philippines & Development
Bank of the Philippines) - To offer “No Average Daily Balance” for corporate accounts made available to
employers in LBP & DBP.

A

Accessible and convenient
online payment

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9
Q

Through regular conduct of capacity building programs on
e-Gov services.

  • Through active stakeholders
    engagement.
    Made possible through:
    NATIONAL
    COMPETITIVENESS
    COUNCIL I PHILIPPINES
    dti
    PhilHealth
    Your Partnce in Hceith
    SOCIAL SECURITY SYSTEM
    LANDBANK
    DBP
A

Boosting of e-Government facilities

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10
Q

Social Service Contributions made easier through technology, reducing the number of payments from 36 - 13

A

SOCIAL SERVICE CONTRIBUTION

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11
Q

ISSUANCE OF MAYOR’S / BUSINESS PERMIT
REQUIREMENT

A
  1. Fully accomplished application form
  2. Community Tax Certificate
  3. Police Clearance
  4. Barangay Permit
  5. Sanitation and Health inspection Permit
  6. Official receipt of payments of income tax(BIR)

Additional requirements in specific cases
(For large scale commercial/industrial establishments)
1. Zoning clearance
2. Fire inspection
3. Building permit

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12
Q

A word, a group of words, signs and symbols, logos, or a mixture of these. Trademarks are used by businesses for protection and for their advantages on competition

A

TRADEMARK

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13
Q

A name or a sign used by and for a product from a specific geographical location. Serve as a right that product has a direct link to its geographical origin for the reason of soil, topography, human skills, the place of origin.

A

GEOGRAPHICAL INDICATION

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14
Q

The scope of industrial designs ranges from fashion to industrial goods such as handicraft, vehicle, jewelry, fashion pieces, and appliances.

A

INDUSTRIAL DESIGN

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15
Q

An exclusive right granted to inventors, which provides a new product or even a new technical solution to a problem. A patent system inspire inventions that are exceptional and beneficial to society.

A

PATENTS

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16
Q

safeguard of literary, scientific, and artistic pieces or domain. Comprises of books and other literary articles, films, paintings, audio or music, and computer software programs.