NASCLA Test 1 Exam Questions and Answers, Latest Update 2024/2025 (Graded A+)
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Course
Nascla
Institution
Nascla
NASCLA Test 1 Exam Questions and Answers, Latest Update 2024/2025 (Graded A+) Benchmarking Tool
2. Select two standard components of a business plan: answer- 1. Marking
Strategy
2. Executive Strategy
3. is the biggest drawback of a sole proprietorship.: answer- Unlimited
Personal Liability
4....
1. and are two essential parts to a business plan: answer- 1. Planning Tool 2. Loan Document 3. Investor Document 4. Benchmarking Tool 2. Select two standard components of a business plan: answer- 1. Marking Strategy 2. Executive Strategy 3. is the biggest drawback of a sole proprietorship.: answer- Unlimited Personal Liability 4. If you are a sole proprietor and complete work under a name that is not your NASCLA Test 1 Exam Questions and Answers | Latest Update 2024/2025 | Graded A+ own, you would be required to file a with local or state government.: - Fictitious Name Certificate 5. You be held liable in a Partnership for the dealings/behavior of your partner if completed on behalf of your company.: Can 6. A crucial drawback of a is double taxation.: C Corporation 7. The person(s) in charge of a corporation is held responsible, to pay out of their pocket, for the bills still outstanding of that corporation.: False 8. The biggest benefit of creating a is that you avoid double taxation.: S Corporation 9. The benefit of have a is that Federal tax is only filed on earnings dispersed to its representatives.: Limited Liability Corporation 10. Form is mandatory to be assigned as an S Corporation.: Form 2553 11. Insurance enhances your protection from and theft.: Accidents 12. Insurance will protect you from accidents/loss associated to your belongings as well as the companies.: Property Insurance 13. Insurance will protect the structure being built and the materials at that location.: Builders' Risk 14. Builders Risk insurance will protect your personal belongings and materi- als if it is at the location.: False 15. A(n) will protect against movable machinery left at the location or while being transported.: Equipment Floater 16. will protect against accidents/damages to visitors or items the company does not own.: Commercial General Liability 17. The covers the cost on the premium for Workers Compensation.: - Employer
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