TN Business and Law Exam Questions with
correct answers
What |shows |the |activity |of |duration |and |sequence |of |tasks |to |be |completed? |- |CORRECT |
ANSWER✔✔-bar |chart
Which |financial |statement |would |one |find |depreciation |on? |- |CORRECT |ANSWER✔✔-income |
statement
Medical |treatment |can |be |defined |as: |- |CORRECT |ANSWER✔✔-management |and |care |of |a |
patient
Establishing |(blank) |will |ensure |that |your |customer |is |aware |of |your |progress |and |of |any |
concerns |that |might |arise |- |CORRECT |ANSWER✔✔-communication
(blank) |is |defined |as |including |real |estate, |lands, |tenements, |and |hereditaments |- |CORRECT |
ANSWER✔✔-real |property
This |is |not |a |purpose |of |marketing: |- |CORRECT |ANSWER✔✔-opening |a |checking |account
What |is |the |gross |pay |of |a |non |exempt |employee |who |works |50 |hours |during |a |holiday |week, |
and |receives |8 |hours |additional |pay |for |the |holiday? |The |employee |earns |$13.50 |per |hour |- |
CORRECT |ANSWER✔✔-$850.50
(13.5 |x |48 |= |648
20.25 |x |10 |= |202.50
648 |= |202.50 |= |850.50)
,This |is |not |used |as |a |guideline |when |obtaining |a |bond... |- |CORRECT |ANSWER✔✔-non |
experience
Use |information |from |(blank) |to |help |determine |accurate |job |costs |- |CORRECT |ANSWER✔✔-
previous |jobs
If |an |employee |earns |$112,000 |per |year, |what |is |the |TOTAL |amount |of |medicare |that |both |
employer |and |employee |is |to |pay |in? |- |CORRECT |ANSWER✔✔-$3,248
(112,000 |x |(1.45 |x |2) |= |3,248)
Who |pays |into |FUTA? |- |CORRECT |ANSWER✔✔-employer
An |entrepreneur |is |a |- |CORRECT |ANSWER✔✔-person
(blank) |absolves |the |indemnified |party |from |any |payment |for |losses |and |damages |incurred |by |
a |third |party |- |CORRECT |ANSWER✔✔-indemnification
Which |Form |is |used |for |Tennessee's |Foreign |Limited |Partnership |Registration? |- |CORRECT |
ANSWER✔✔-SS-4473
Is |insurance |a |guideline |for |a |job |description? |- |CORRECT |ANSWER✔✔-no
An |employer |is |liable |to |pay |both |state |and |federal |employment |taxes |if |wages |to |employees |
total |(blank) |or |more |in |any |quarter |of |a |calendar |year |- |CORRECT |ANSWER✔✔-$1,500
An |independent |contractor |is |usually |paid |by |- |CORRECT |ANSWER✔✔-flat |fee
, What |is |the |net |income |when |there |is |an |income |of |$92,000, |expenses |of |$24,000, |and |costs |
of |goods |sold |is |$34,000? |- |CORRECT |ANSWER✔✔-$34,000
If |D&K |Construction's |shareholders |wish |to |limit |their |liabilities, |they |should |become |a |- |
CORRECT |ANSWER✔✔-C |Corporation
When |starting |a |business, |the |first |thing |one |should |decide |is |- |CORRECT |ANSWER✔✔-the |
legal |structure |of |the |business
FUTA |tax |base |and |tax |rate |is |generally |calculated |at? |- |CORRECT |ANSWER✔✔-current |
prevailing |rate
Which |of |the |following |insurance |will |protect |an |organization's |officers |from |liability? |- |
CORRECT |ANSWER✔✔-D |and |O
Worker's |compensation |is |paid |for |by |the |- |CORRECT |ANSWER✔✔-employer
The |following |insurance |provides |coverage |when |damage |has |been |caused |by |a |flood |- |
CORRECT |ANSWER✔✔-named-peril
Bids |for |the |services |of |a |construction |manager |must |contain |a |bid |bond |in |the |amount |of |
(blank) |of |the |work |being |bid |- |CORRECT |ANSWER✔✔-10%
Of |the |following, |(blank) |is |not |part |of |project |overhead? |- |CORRECT |ANSWER✔✔-clerical |pay
An |employee |is |generally |subject |to |the |business' |instructions |about |all |except... |- |CORRECT |
ANSWER✔✔-right |to |control
When |negotiating, |one |should |- |CORRECT |ANSWER✔✔-aim |high
correct answers
What |shows |the |activity |of |duration |and |sequence |of |tasks |to |be |completed? |- |CORRECT |
ANSWER✔✔-bar |chart
Which |financial |statement |would |one |find |depreciation |on? |- |CORRECT |ANSWER✔✔-income |
statement
Medical |treatment |can |be |defined |as: |- |CORRECT |ANSWER✔✔-management |and |care |of |a |
patient
Establishing |(blank) |will |ensure |that |your |customer |is |aware |of |your |progress |and |of |any |
concerns |that |might |arise |- |CORRECT |ANSWER✔✔-communication
(blank) |is |defined |as |including |real |estate, |lands, |tenements, |and |hereditaments |- |CORRECT |
ANSWER✔✔-real |property
This |is |not |a |purpose |of |marketing: |- |CORRECT |ANSWER✔✔-opening |a |checking |account
What |is |the |gross |pay |of |a |non |exempt |employee |who |works |50 |hours |during |a |holiday |week, |
and |receives |8 |hours |additional |pay |for |the |holiday? |The |employee |earns |$13.50 |per |hour |- |
CORRECT |ANSWER✔✔-$850.50
(13.5 |x |48 |= |648
20.25 |x |10 |= |202.50
648 |= |202.50 |= |850.50)
,This |is |not |used |as |a |guideline |when |obtaining |a |bond... |- |CORRECT |ANSWER✔✔-non |
experience
Use |information |from |(blank) |to |help |determine |accurate |job |costs |- |CORRECT |ANSWER✔✔-
previous |jobs
If |an |employee |earns |$112,000 |per |year, |what |is |the |TOTAL |amount |of |medicare |that |both |
employer |and |employee |is |to |pay |in? |- |CORRECT |ANSWER✔✔-$3,248
(112,000 |x |(1.45 |x |2) |= |3,248)
Who |pays |into |FUTA? |- |CORRECT |ANSWER✔✔-employer
An |entrepreneur |is |a |- |CORRECT |ANSWER✔✔-person
(blank) |absolves |the |indemnified |party |from |any |payment |for |losses |and |damages |incurred |by |
a |third |party |- |CORRECT |ANSWER✔✔-indemnification
Which |Form |is |used |for |Tennessee's |Foreign |Limited |Partnership |Registration? |- |CORRECT |
ANSWER✔✔-SS-4473
Is |insurance |a |guideline |for |a |job |description? |- |CORRECT |ANSWER✔✔-no
An |employer |is |liable |to |pay |both |state |and |federal |employment |taxes |if |wages |to |employees |
total |(blank) |or |more |in |any |quarter |of |a |calendar |year |- |CORRECT |ANSWER✔✔-$1,500
An |independent |contractor |is |usually |paid |by |- |CORRECT |ANSWER✔✔-flat |fee
, What |is |the |net |income |when |there |is |an |income |of |$92,000, |expenses |of |$24,000, |and |costs |
of |goods |sold |is |$34,000? |- |CORRECT |ANSWER✔✔-$34,000
If |D&K |Construction's |shareholders |wish |to |limit |their |liabilities, |they |should |become |a |- |
CORRECT |ANSWER✔✔-C |Corporation
When |starting |a |business, |the |first |thing |one |should |decide |is |- |CORRECT |ANSWER✔✔-the |
legal |structure |of |the |business
FUTA |tax |base |and |tax |rate |is |generally |calculated |at? |- |CORRECT |ANSWER✔✔-current |
prevailing |rate
Which |of |the |following |insurance |will |protect |an |organization's |officers |from |liability? |- |
CORRECT |ANSWER✔✔-D |and |O
Worker's |compensation |is |paid |for |by |the |- |CORRECT |ANSWER✔✔-employer
The |following |insurance |provides |coverage |when |damage |has |been |caused |by |a |flood |- |
CORRECT |ANSWER✔✔-named-peril
Bids |for |the |services |of |a |construction |manager |must |contain |a |bid |bond |in |the |amount |of |
(blank) |of |the |work |being |bid |- |CORRECT |ANSWER✔✔-10%
Of |the |following, |(blank) |is |not |part |of |project |overhead? |- |CORRECT |ANSWER✔✔-clerical |pay
An |employee |is |generally |subject |to |the |business' |instructions |about |all |except... |- |CORRECT |
ANSWER✔✔-right |to |control
When |negotiating, |one |should |- |CORRECT |ANSWER✔✔-aim |high
