Utah General Contractor's Course questions with correct answers

Which business organization is regulated the least by the government? CORRECT ANSWER Sole Proprietorship In a general partnership, each partner is liable for the debt of the company up to the percentage of the company they own. CORRECT ANSWER false What business organization provides the most financial protection for the owners? CORRECT ANSWER Corporation Sole Proprietorships can issue and sell stock in the company to raise capital. CORRECT ANSWER false Can a corporation actually be listed as the sole owner of a property? CORRECT ANSWER yes Limited Liability Companies have the ability to be passed down to family members when an owner (member) dies. CORRECT ANSWER false Sub Chapter "S" Corporations can retain their status no matter how many stockholders they have. CORRECT ANSWER false Start-up and operating costs must be considered when creating a ____________ . CORRECT ANSWER financial plan A _________ provides potential investors with a concrete description of your successes and qualifications. CORRECT