NASCLA Contractor's Guide UPDATED ACTUAL Questions and CORRECT
Answers
bid documents
3 elements of a business plan
advantages of sole proprietorship
disadvantages of sole proprietorship
who has limited liability in the company?
advantages of a general partnership
disadvantages of a general partnership
, the death of a gen-eral partner
-cover page
-executive summary
-company summary
-products and services
-market analysis
-marketing strategy
-financial plan
-minimal legal restrictions
-simple ownership form
-low start up costs
-sole ownership of profits
-freedom in decision making
process
-unlimited personal liability
-less available capital
-possible diflculty obtaining long-term
financing
-dissolution of the business on the
even of the owner'sdeath
limited partners
-ease of formation
-direct profit rewards
-larger management base than that of a
sole proprietor-ship
-unlimited personal liability of general
partners
-multiple decision makers
-limited life of the business
-changes of partners or partnership
agreement may bediflcult
-partnership dissolves in the event of
2/7
Answers
bid documents
3 elements of a business plan
advantages of sole proprietorship
disadvantages of sole proprietorship
who has limited liability in the company?
advantages of a general partnership
disadvantages of a general partnership
, the death of a gen-eral partner
-cover page
-executive summary
-company summary
-products and services
-market analysis
-marketing strategy
-financial plan
-minimal legal restrictions
-simple ownership form
-low start up costs
-sole ownership of profits
-freedom in decision making
process
-unlimited personal liability
-less available capital
-possible diflculty obtaining long-term
financing
-dissolution of the business on the
even of the owner'sdeath
limited partners
-ease of formation
-direct profit rewards
-larger management base than that of a
sole proprietor-ship
-unlimited personal liability of general
partners
-multiple decision makers
-limited life of the business
-changes of partners or partnership
agreement may bediflcult
-partnership dissolves in the event of
2/7
