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NASCLA Contractors Guide Arkansas 8th Edition QUESTIONS WITH VERIFIED ANSWERS.
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NASCLA Contractors Guide Arkansas 8th Edition QUESTIONS WITH VERIFIED ANSWERS.
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NASCLA Contractors Guide Arkansas 8th Edition QUESTIONS WITH VERIFIED ANSWERS . Poor l_________ land linadequate l____________ lare loverriding lfactors lin lbusiness lfailure l- l(correct lanswer) l-Planning; lManagement entrepreneur l- l(correct lanswer) l-A lperson lengaged lin lstrategic lactivities lthat linvolve lthe linitiation land ldevelopment lof la lnew lbusiness, lcreated lto lbuild llong lterm lvalue land lsteady lcash lflow Calculated lrisk l- l(correct lanswer) l-a lrisk lthat lis lwell l- lthough t lthrough lwhere lall loutcomes lare lconsidered rewards lof lowning lyour lown lbusiness l- l(correct lanswer) l-- lbeing lyour lown lboss -having lflexibility lof ltime -having lmore lfreedom land lindependence l -making lyour lown ldecisions l -receiving lpersonal lsatisfaction lfrom lcompleting la ljob A lbusiness lplan lshould lbe la l_________ l____________ lthat lchanges las lyour lbusiness land lthe lmarket lchange l- l(correct lanswer) l-living ldocument Business lplan lkey lfunctions l- l(correct lanswer) l-1. lPlanning ltool l 2. lLoan lor linvestor ldocument l 3. lBenchmark ltool Elements lof la lbusiness lplan l- l(correct lanswer) l-1. lcover lpage l 2. lExecutive lsummary l 3. lCompany lsummary l 4. lProducts land lServices l 5. lMarket lanalysis l 6. lMarket lstrategy 7. lFinancial lplan Business lPlan lPitfalls l- l(correct lanswer) l-- lmake lsure lyour lassumptions lare lrealistic l - lkeep lthe llanguage lsimple l - lcover lthe lrisk las lwell las lthe lopportunities l - lanalyze lyour lcompetition lthoroughly Sole lProprietorship l- l(correct lanswer) l-this lbusiness lstructure loffers leasy lformation land loperation, lhowever, lunlimited lpersonal lliability lis la lconcern lbecause lthe lbusiness land lowner lare lconsidered lthe lsame llegal lentity Advantages lof la lSole lProprietorship l- l(correct lanswer) l-- lMinimal llegal lrestrictions l - lsimple lownership lform l - llow lstartup lcost l - lsole lownership lprofits l - lfreedom lin ldecision lmaking lprocess Disadvantages lof lSole lProprietorship l- l(correct lanswer) l-- lunlimited lpersonal lliability l - lless lavailable lcapital l - lpossible ldifficulty lobtaining llong-term lfinancing l -dissolution lof lthe lbusiness lin lthe levent lof lthe lowners ldeath Partnership l- l(correct lanswer) l-can lbring ltogether ltwo lor lmore lpeople lwith lstrengths land lresources lin ldifferent lareas lbut lalso lallow lfor lunlimited lpersonal lliability lof lgeneral lpartners. lto lreduce lconflicts lamong lpartners, lresponsibilities land lbusiness lgoals lmust lbe lclearly loutlined lat lthe lbeginning lof lthe lbusiness larrangement Advantages lof la lgeneral lpartnership l- l(correct lanswer) l--ease lof lformation -direct lprofit lrewards -larger lmanagement lbase lthan lthat lof la lsole lproprietorship General lpartnership l- l(correct lanswer) l-can lbe lformed lthrough lan loral lagreement, lbut lit lis lrecommended lthat la lwritten lpartnership lagreement lbe lmade limited lpartnership l- l(correct lanswer) l-A lpartnership lwith lone lor lmore lgeneral lpartners land lone lor lmore llimited lpartners. disadvantages lof la lGeneral lPartnership l- l(correct lanswer) l-- lUnlimited lpersonal lliability lof lgeneral lpartners l - lmultiple ldecisio n lmakers - llimited llife lof lthe lbusiness - lChanges lof lpartners lor lpartnership lagreement lmay lbe ldifficult l - lpartnership ldissolves lin lthe levent lof lthe ldeath lof la lgeneral lpartner Partnership, lLimited lliability lpartnerships, land lLimited lliability lpartnerships lmust lregister lthrough lthe..... l- l(correct lanswer) l-Arkansas lsecretary lof lstate C lCorporation l- l(correct lanswer) l-Offer lliability lprotection lto lthe lowners land leasy lownership ltransfer lthrough lstock lsales. lthis lbusiness lstructure lis lmore lcomplex lto loperate land lshareholders lmay lbe l"double -taxed" lon ltheir learnings Advantages lof la lC lCorporation l- l(correct lanswer) l-- lSeparate llegal lentity l - lLimited lliability lfor lstockholders l - lUnlimited llife lof lthe lbusiness l - lAvailability lof lcapital lresources l - lTransfer lof lownership lthrough lsale lof lstock Disadvantages lof la lC lCorporation l- l(correct lanswer) l-- lComplex land lexpensive lorganization l - lLimitation lon lcorporate lactivities land ldecisions lby lthe lcorporate lcharter l - lExtensive lregulation land lrecord lkeeping l - lDouble ltaxation Arkansas lbased lbusiness luse l_______ l________ l- l(correct lanswer) l-Domestic lforms To lincorporate la lbusiness lin larkansas, lArticles lof lincorporation lmust lbe lfiled lwith lthe: l- l(correct lanswer) l-Secretary lof lstate, lbusiness land lcommercial lservices ldivision S lcorporation l- l(correct lanswer) l-Similar lto lC lcorporations lbut loffer lspecial ltax lconsiderations. lCan lbe lfiled lwith lthe lIRS, lif lcompanies lmeet lspecific lcriteria Requirement s lof lan lS lCorporation l- l(correct lanswer) l-- lDomestic lcorporation lwith lone lclass lof lstock l - lNo lmore lthan l100 lshareholders lwho lare lcitizens lor llegal lresidents lof lthe lU.S - lAll lshareholders lmust lconsent lto lS lcorporation lstatus l - lUse lof lpermitted ltax l - lFiling lof lIRS lForm l2553 Limited lLiability lCompany l(LLC) l- l(correct lanswer) l-a lform lof lbusiness lownership lthat loffers lboth llimited lliability lto lits lowners land lflexible ltax ltreatment Advantages lof la lLLC l- l(correct lanswer) l-- lLimited ldisclosure lof lowners l - lLimited ldocumentation l - lNo ladvance lIRS lfilings l - lNo lpublic ldisclosure lof lfinances l - lLimited lliability lfor lmanagers land lmembers l - lAbility lto ldelegate lmanagement lto la lnon-member Joint lVentures l- l(correct lanswer) l-generally lformed lon la lproject lbasis lin lorder lto lintegrate lpositive lattributes land lresources lof ltwo lor lmore lcompanies A lcorporate lname lmay lbe lreserved lfor l______ ldays lprior lto lincorporation l- l(correct lanswer) l-120 Naming lyour lbusiness l- l(correct lanswer) l-an lappropriate lbusiness lname lis limport ant land ldefines lhow lyour lcustomers lperceive lyouThe benefits of buying summaries with Stuvia:
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