TN Contractors License
TN Contractors License
Study online at https://quizlet.com/_96expv
1. Entrepreneur A person who starts up and takes on the risk of a business
2. Business Plan Cover Page, Executive Summary, Company Summary, Products/Services,
market analysis, market strategy, finanicial plan
3. Sole Proprietorship Single owner, unlimited personal liability,
4. Partnership Two or more owners, unlimited personal liability
5. C Corporation The most common type of corporation, which is a legal business entity that
offers limited liability to all of its owners, who are called stockholders
6. S corporation A unique government creation that looks like a corporation but is taxed like
sole proprietorships and partnerships
7. LLC (Limited Liability A company similar to an S corporation but without the special eligibility
Company) requirements.
8. Contractors License Needed for those doing work over $25,000 - includes subs in MEP
9. Limited Licensed License for plumbers and electricans doing work under $25,000
Plumber or Electrician
10. Subrogation Insurance company right to recover cost of loss from negligent party
11. Builders Risk Insur- Insurance coverage for construction project in process
ance
12. Inland Marine/Equip- Property insurance for equipment and tools
ment Theft Insurance
13. Equipment floater Direct loss coverage for equipment onsite and in transit
policy
14.
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TN Contractors License
Study online at https://quizlet.com/_96expv
1. Entrepreneur A person who starts up and takes on the risk of a business
2. Business Plan Cover Page, Executive Summary, Company Summary, Products/Services,
market analysis, market strategy, finanicial plan
3. Sole Proprietorship Single owner, unlimited personal liability,
4. Partnership Two or more owners, unlimited personal liability
5. C Corporation The most common type of corporation, which is a legal business entity that
offers limited liability to all of its owners, who are called stockholders
6. S corporation A unique government creation that looks like a corporation but is taxed like
sole proprietorships and partnerships
7. LLC (Limited Liability A company similar to an S corporation but without the special eligibility
Company) requirements.
8. Contractors License Needed for those doing work over $25,000 - includes subs in MEP
9. Limited Licensed License for plumbers and electricans doing work under $25,000
Plumber or Electrician
10. Subrogation Insurance company right to recover cost of loss from negligent party
11. Builders Risk Insur- Insurance coverage for construction project in process
ance
12. Inland Marine/Equip- Property insurance for equipment and tools
ment Theft Insurance
13. Equipment floater Direct loss coverage for equipment onsite and in transit
policy
14.
1/3
