Nascla contractor s guide - Study guides, Class notes & Summaries

NASCLA Contractor's Guide | Questions and Correct answers | Latest Update 2024/2025 | 100% Pass 3 elements of a business plan - Answer --cover page -executive summary -company summary -products and services -market analysis -marketing strategy -financial plan advantages of sole proprietorship - Answer --minimal legal restrictions -simple ownership form -low start up costs -sole ownership of profits -freedom in decision making processdisadvantages of sole proprietorship - Answer...

NASCLA Contractors Guide Exam Questions With Verified Answers When a business is purchased by a new owner, what happens in regards to the "EIN"? - answerA new EIN is required A clause that means that a subcontractor is bound by the same obligations as are required of the general contractor is called: - answerFlow-down clause What are the three key functions on a business plan? - answerPlanning Tool, Loan or Investor Document, Benchmarking tool A contractor's Business Plan does NOT inc...

NASCLA Contractor's Guide Questions & answers

NASCLA Contractor Exam Study Guide Question and answers 100% correct 2023/2024Sole Proprietorship - correct answer Which form of business ownership is least regulated? Partnership - correct answer under which form of business organization are all investors fully liable for all debts of the business? S corporation - correct answer The owner who is looking for maximum protection from personal liability will choose this Leaving something out - correct answer What is the worst possible erro...

NASCLA Contractor's Guide Questions with complete solution 2023/2024Key characteristics of sole proprietorships - correct answer Taxes: Your net income from the business is reported as ordinary income. sole proprietors do not pay corporate income taxes Advantages of General Partnership - correct answer -ease of formation -direct profit rewards -larger management base than that of a sole proprietorship Disadvantages of a general partnership - correct answer unlimited liability, Multipl...

NASCLA Contractors Guide Exam Questions With Verified Answers When a business is purchased by a new owner, what happens in regards to the "EIN"? - answerA new EIN is required A clause that means that a subcontractor is bound by the same obligations as are required of the general contractor is called: - answerFlow-down clause What are the three key functions on a business plan? - answerPlanning Tool, Loan or Investor Document, Benchmarking tool A contractor's Business Plan does NOT inc...

Nascla Contractor Exam Study Guide With Complete Solutions Latest Update

NASCLA Contractor's Guide

NASCLA Contractor's Study Guide 2024.3 elements of a business plan - correct answer -cover page -executive summary -company summary -products and services -market analysis -marketing strategy -financial plan advantages of sole proprietorship - correct answer -minimal legal restrictions -simple ownership form -low start up costs -sole ownership of profits -freedom in decision making process disadvantages of sole proprietorship - correct answer -unlimited personal liability -le...

NASCLA Contractor's Guide Question and answers rated A+ 2023/2024Rewards of Business Ownership - correct answer • being your own boss • having flexibility of time • having more freedom • making your own decisions • receiving personal satisfaction from completing a job Challenges of business ownership - correct answer • Long working hours • managing cash flow and payroll • High potential for overwhelming responsibility • finding and keeping qualified employees •...