Nascla Contractors Guide Arkansas 8th Edition Study Guide Questions And Correct Answers

SUTA Dumping {Ans: Transfer of employees between businesses for the purpose of obtaining a lower unemployment tax rate.}At-Will employment {Ans: An employment agreement where either th eemployer or the employee may terminate employment at any time without notice or cause}S corporation {Ans: Similar to C corporations but offer special tax considerations. Can be filed with the IRS, if companies meet specific criteria}Balance sheet {Ans: one of the basic accounting financial statement that shows a company's assets, liabilities, and owners equity}long-term liabilities {Ans: Debt obligations that extend beyond a year}entrepreneur {Ans: A person engaged in strategic activities that involve the initiation and development of a new business, created to build long term value and steady cash flow}