with Detailed Answers | 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 PRINCIPLES
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
,SOLE 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.
CORPORATION/ C CORP - ✔✔A LEGAL ENTITY SEPARATE FROM ITS MEMBERS,
REQUIRES ARTICLES OF CORP FROM STATE OFFICE. MEMBERS ARE ONLY
RESPONSIBLE FOR INITAL INVESTMENT.
C CORP - ✔✔STRUCTURE: STOCKHOLDERS, DIRECTORS, OFFICERS
CORP - ✔✔ADVANTAGE: MEMBERS PERSONAL ASSETS ARE NOT AT RISK. TAXED
AT LOWER RATES BUT ONCE AT THE BUSINESS LEVEL ON ITS PROFITS AND ONCE
FOR ITS SHAREHOLDERS FOR DIVIDENDS
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, S CORP - ✔✔ALLOCATES INCOME AND LOSSES DIRECTLY TO SHAREHOLDERS.
LIMITED TO SMALL BUSINESSES, LESS THAN 100.
LLC OR LLP - ✔✔CONSIST OF INVESTORS/MEMBERS AND MANAGERS.
MEMBERS HAVE NO PERSONAL LIABILITY ONLY INITIAL INVESTMENT. NOT A
SEPARATE ENTITY TAX WISE SO THE BUSINESS ISN'T TAXED. PROFITS/LOSSES
AND TAXES ARE PASSED ON TO ITS MEMBERS
JOINT VENTURE - ✔✔TEMP ASSOCIATION OF 2 OR MORE PERSONS/FIRMS FOR
THE PURPOSE OF COMPLETING A PROJECT OR GOAL. TYP. OF LARGE PROJECT
TYPES & OUTSOURCING EXPERTISE. DISSOLVES AFTER COMPLETION.
TEAMING AGREEMENT - ✔✔DEFINES ROLES, RESPONSIBILITIES, &
CONTRACTUAL RELATIONSHIPS. NOT A FORMAL AGREEMENT.
STANDARD OF CARE - ✔✔LEVEL OF SKILL & DILIGENCE THAT A REASONABLY
PRUDENT ARCH WOULD EXERCISE IN THE SAME COMMUNITY, IN THE SAME
FRAME AND GIVEN THE SAME SIM FACTS & CIRCUMSTANCES.
DEPARTMENTAL ORG/ HORIZ OR FLAT ORG - ✔✔VERY EFFICIENT, ALLOWS FOR
FINE TUNING OF PROCESSES, CREATES ECONOMIES OF SCALE. POSSIBLE
COMMUNICATION ISSUES.
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.