Sole proprietor - Study guides, Class notes & Summaries

Nascla Contractors Guide Question and answers 2024 verified to passWhat are some of the advantages of a sole proprietor? - correct answer Business can be sold at will Freedom in Decision Making Process Sole Ownership of Profits Low startup cost Simple Ownership Form Minimal Legal Restriction What are some of the disadvantages of a Sole Proprietor? - correct answer Less Available capital Unlimited Personal Liability Possible difficulty obtaining long term financing dissolution of...

sole proprietor correct answers has all of the gain and all of the loss, responsible for the control, liabilities and management of the business sole proprietor correct answers legally the owner of the business and capital must come from the owner's own resources or borrowed corporation correct answers become a ____ if you want to protect your personal liability individual correct answers a corporation will be taxed at an _____ and a corporate rate general partnership correct answer...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

WGU C239 Exam Problems | 110 Questions with 100% Correct Answers | Verified | Latest Update Angel has an AGI of $85,000 without considering the sale of a nondepreciable asset for $35,000. The asset was acquired five years ago and has an adjusted basis of $50,000. She has no other sales or exchanges. Determine Angel's AGI for the following independent situations when the asset is: A capital asset § 1231 asset - 82,000 - 70,000 A owns invest land with an adjusted bases of 50000 FMV of...

Parties not named in a partnership agreement can be considered partners through a partnership by estoppel. Identify a true statement about such a party who is considered a partner. - ️️In many states, the party can be held liable for the costs of the damages to the customer. Which of the following is not a duty of partners to one another? - ️️The beneficiary duty to the other partners A ______ proprietorship is a business in which one person is in control of the management and pro...

Cyndy is a sole proprietor of a day care. She wishes to build a new playground and also purchase new toys. She plans on doing this in stages and therefore wants a loan where she can draw against a predetermined amount as she needs it rather than getting a lump sum loan. Which type of loan would you recommend for Cyndy? A) Collateral B) Line of credit C) Private loan D) Commercial loan - ️️b. line of credit Which of the following is true about a sole proprietorship? A) It is subject ...

CFM 445 Midterm Questions and Answers 100% Pass Most companies fail when they have to face ____ or more risks at the same time 2 _____ is the most common element among contractors who fail significant increase in the size of projects undertaken Events leading to contractor failure usually take place in _______ during profitable years prior to failure T/F Past success is a good indication of future success False T/F A board of directors should be made up of internal and external members True ...

Nascla Contractors Guide (Virginia 8th Edition) & Virginia Uniform Statewide Building Code "USBC" (2000 Edition) What are some of the advantages of a sole proprietor? - ANS ️️ Business can be sold at will Freedom in Decision Making Process Sole Ownership of Profits Low startup cost Simple Ownership Form Minimal Legal Restriction What are some of the disadvantages of a Sole Proprietor? - ANS ️️ Less Available capital Unlimited Personal Liability Possible difficulty obtaining...

sole proprietor correct answers A form of business ownership is least regulated partnership correct answers Under which form of business organization are all investors fully liable for all debts of the business. S corporation correct answers owner who is looking for maximum protection from personal liability leaving something out correct answers worst possible error in estimating source documents correct answers the paperwork related to purchase order, credit card receipts and so on....

Your insured, a sole proprietor, purchased a building valued at $1 million. The insurance policy has a coinsurance clause based on the replacement cost value of 90%. Contrary to your advice, your insured insures the building for only $500,000. He suffers a windstorm loss totaling $150,000. How much will the insurer pay? a) $75,000 b) $83,333 c) $150,000 d) $93.755 b) $83,333 An insured property is covered by two separate commercial policies placed with two different insurers. Insurer A...