TN Contractors License Exam Study Guide
Entrepreneur - Answer️️ -A person who starts up and takes on the risk of a
business
Business Plan - Answer️️ -Cover Page, Executive Summary, Company Summary,
Products/Services, market analysis, market strategy, finanicial plan
Sole Proprietorship...
Entrepreneur - Answer✔️✔️-A person who starts up and takes on the risk of a
business
Business Plan - Answer✔️✔️-Cover Page, Executive Summary, Company Summary,
Products/Services, market analysis, market strategy, finanicial plan
Sole Proprietorship - Answer✔️✔️-Single owner, unlimited personal liability,
Partnership - Answer✔️✔️-Two or more owners, unlimited personal liability
C Corporation - Answer✔️✔️-The most common type of corporation, which is a
legal business entity that offers limited liability to all of its owners, who are called
stockholders
S corporation - Answer✔️✔️-A unique government creation that looks like a
corporation but is taxed like sole proprietorships and partnerships
LLC (Limited Liability Company) - Answer✔️✔️-A company similar to an S
corporation but without the special eligibility requirements.
Contractors License - Answer✔️✔️-Needed for those doing work over $25,000 -
includes subs in MEP
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