CM 4211 midterm Exam (Already Passed)
with Questions Solved 100% Correct |
Verified Solutions
LLC are businesses that are time consuming, difficult, and more expensive to create -
✔✔False
A verb that describes the act of forming a business entity - ✔✔Incorporation
A noun that describes a type of business entity - ✔✔Corporation
In Sole proprietorship there is a legal separation between the owner and the business? -
✔✔False
A S Corp has the benefit of - ✔✔Same protection as LLC
Services agreements and contracts are essential commercial legal instruments - ✔✔True
All contracts are considered agreements but not all agreements are considered contracts -
✔✔True
The difference between a contract and service agreement is - ✔✔Contract is a formal
legal document
Service Agreements are - ✔✔Informal
, An invoice is an accounting document that lists products or services that a company provides to
a client or customer - ✔✔True
The term Bill and Invoice mean the same thing and there is NO difference - ✔✔False
A purchase agreement will have - ✔✔The price to be paid
A contract can have multiple - ✔✔Purchase Orders
A Work Order outlines what - ✔✔Specific Tasks on a project
The practice of assigning or outsourcing part of a project under a GC is - ✔✔Subcontractor
Work orders are also ways for construction companies to record and file the details of their
projects - ✔✔True
Some Projects use a Work Order that requests the services of - ✔✔(a.Inspection,
Maintenance, and Electrical
b.Emergency Repairs
c.Safety and Quality Inspections)
All the above
Purchase and Sales Agreements protect the builder and the buyer - ✔✔True
The PO outlines the price and quantity of goods or services necessary to complete the project
as agreed upon by both parties. - ✔✔True
with Questions Solved 100% Correct |
Verified Solutions
LLC are businesses that are time consuming, difficult, and more expensive to create -
✔✔False
A verb that describes the act of forming a business entity - ✔✔Incorporation
A noun that describes a type of business entity - ✔✔Corporation
In Sole proprietorship there is a legal separation between the owner and the business? -
✔✔False
A S Corp has the benefit of - ✔✔Same protection as LLC
Services agreements and contracts are essential commercial legal instruments - ✔✔True
All contracts are considered agreements but not all agreements are considered contracts -
✔✔True
The difference between a contract and service agreement is - ✔✔Contract is a formal
legal document
Service Agreements are - ✔✔Informal
, An invoice is an accounting document that lists products or services that a company provides to
a client or customer - ✔✔True
The term Bill and Invoice mean the same thing and there is NO difference - ✔✔False
A purchase agreement will have - ✔✔The price to be paid
A contract can have multiple - ✔✔Purchase Orders
A Work Order outlines what - ✔✔Specific Tasks on a project
The practice of assigning or outsourcing part of a project under a GC is - ✔✔Subcontractor
Work orders are also ways for construction companies to record and file the details of their
projects - ✔✔True
Some Projects use a Work Order that requests the services of - ✔✔(a.Inspection,
Maintenance, and Electrical
b.Emergency Repairs
c.Safety and Quality Inspections)
All the above
Purchase and Sales Agreements protect the builder and the buyer - ✔✔True
The PO outlines the price and quantity of goods or services necessary to complete the project
as agreed upon by both parties. - ✔✔True
