Pre - Test True or False Direction: Write T in your answer sheet if the statement is TRUE and F if it is FALSE. 1. A business organization is a group of two or more persons working together to attain a common aspiration and set of goals. 2. Sole or Single Proprietorship is a form of business organization that is owned and controlled by two or more persons who agreed to contribute their assets for capital. 3. Getting all the profit is the greatest advantage or reward of sole proprietorship 4. Economic development is the process in which a nation improves the economic, political and social well-being of its people. 5. Economic growth does not deal much with the actual welfare of the people in the country but measures the changes of Gross Domestic Product (GDP). 6. Partnership is a form of business organization that is owned and controlled by one person and it is the simplest form of business ownership.