NASCLA Contractors Guide to business and law Alabama 3rd Edition || with 100% Verified Solutions.
Course
NASCLA Contractors
Institution
NASCLA Contractors
Sole Proprietorship correct answers a business owned and managed by a single individual
If doing business not under Sole proprietorship you need to file a "doing business as" to? correct answers Alabama Secretary of State
what are the 2 types of partnerships correct answers 1.General
2.Limit...
NASCLA Contractors Guide to business and law Alabama 3rd Edition || with 100% Verified Solutions.
Sole Proprietorship correct answers a business owned and managed by a single individual
If doing business not under Sole proprietorship you need to file a "doing business as" to? correct answers Alabama Secretary of State
what are the 2 types of partnerships correct answers 1.General
2.Limited
Each partner is responsible for the acts of the other partners when they act in the name of business correct answers General Partnership
liable only for the previously agreed upon contribution to or investment in the business correct answers Limited Partners
What is a LLP or L.L.P.? correct answers Limited Liability Partnership
When does a business assume corporate identity? correct answers when it files as a corporation with the probate judges office in the county it is located.
A foreign corporation is allowed to conduct business in Alabama when it files with whom? correct answers The secretary of state office (Alabama)
What type of corporation receives "double taxation" correct answers C Corporation
Limited Liability Company (LLC) correct answers characteristics of both a sole proprietorship and corporation
Home Builder correct answers to construct or manage the construction, repair or improvement of
any residence or structure that is not more than 3 floors in height and has no more than 4 units in an apartment complex
At what point is a home builders license required? correct answers when the cost of the undertaking, including labor and materials is $10,000 or more.
What happens if a payment is made from the recovery fund? correct answers the license is terminated, and can be until licensee repays the fund plus 12% per annum
Define Insurance correct answers a protective measure in which coverage is obtained for a specific risk through a contract.
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