Utah General Contractor's Course - Business And Law Exam Prep Questions And Answers Complete

Utah General Contractor's Course - Business and Law Exam PrepWhich business organization is regulated the least by the government?>>> Sole ProprietorshipIn a general partnership, each partner is liable for the debt of the company up to the percentage of the company they own.>>> falseWhat business organization provides the most financial protection for the owners?>>> CorporationSole Proprietorships can issue and sell stock in the company to raise capital.>>> falseCan a corporation actually be listed as the sole owner of a property?>>> yesLimited Liability Companies have the ability to be passed down to family members when an owner (member) dies.>>> falseSub Chapter "S" Corporations can retain their status no matter how many stockholders they have.>>> falseStart-up and operating costs must be considered when creating a ____________ .>>> financial planA _________ provides potential investors with a concrete description of your successes and qualifications.>>> business planA _______________ combines the liability protection of a corporation with the favorable tax treatment of a partnership or sole proprietorship.>>> LLC_____________ have a partner who contributes funds and or property to the business, but does not provide any services or have any say in the day to day business.>>> Limited PartnershipsIt is a good idea