ARE 5.0 PCM Questions and Answers | Latest Updated Graded A+
CANNON 1 - GENERAL OBLIGATIONS: MAINTAIN & ADVANCE THEIR KNOWLEDGE OF THE ART & SCIENCE OF ARCHITECTURE, CONTRIBUTE TO ITS GROWTH, EXERCISE LEARNED AND COMPROMISED PROFESSIONAL JUDGEMENT. CANNON II - OBLIGATIONS TO THE PUBLIC: SERVE THE PUBLIC INTEREST IN THEIR PROFESSIONAL AND PERSONAL ACTIVITIES CANNON III - OBLIGATIONS TO THE CLIENT: SERVE CLIENTS COMPETENTLY AND IN A PROFESSIONAL MANNER. CANNON IV - OBLIGATIONS TO THE PROFESSION: UPHOLD THE INTEGRITY AND DIGNITY OF THE PROFESSION. CANNON V - OBLIGATIONS TO COLLEAGUES: RESPECT THE RIGHTS AND ACKNOWLEDGE THE PROFESSIONAL ASPIRATIONS AND CONTRIBUTIONS OF THEIR COLLEAGUES. CANNON VI - OBLIGATIONS TO THE ENVIRONMENT: PROMOTE SUSTAINABLE DESIGN AND DEVELOPMENT PRINCIPLESSOLE PROPRIETORSHIP - OWNED BY AN INDIVIDUAL. EASY TO SETUP, TOTAL MGT BY OWNER, POSSIBLE TAX ADVANTAGES. DISADVANTAGE: OWNER IS PERSONALLY LIABLE FOR COMPANY DEBTS AND LOSSES GENERAL PARTNERSHIP - 2 OR MORE PEOPLE, GENERAL PARTNERS, SHARE MGT, RISK, RPFIT. INCOME IS SHARED & REPORTED ON PERSONAL TAX FORMS. EACH PARTNER IS PERSONALLY LIABLE FOR BUSINESS DEBTS. LIMITED PARTNERSHIP - HAS ONE GENERAL PARTNER & AT LEAST ONE LIMITED PARTNER. GEN. PARTNERS INVEST & MANAGE IT & ARE FINANCIALLY RESPONSIBLE. LIMITED PARTNERS ARE SILENT INVESTORS, ONLY LIABLE FOR THEIR INITIAL INVESTMENT
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