Business 100: Quality Businesses with Limited Liability Final Exam

Which is NOT one of the 3 most common small business structures in our industry:

Name the business structure best suited for companies with more than one unrelated owner that does not want to fully incorporate.

S-Corporations are the business structure best suited for companies owned by married couples.

Name the business structure that provides the least protection for the company owner in which he/she is solely responsible for the business’s debts, losses and liabilities.

Which type of insurance policy will cover property damage, medical expenses, libel, slander, and the business’s cost of defending lawsuits.

What is the formal name of insurance coverage protects your business against malpractice, errors, and negligence in provision of services to your customers?

Name the type of insurance that would best cover a tester’s radon monitors and a mitigator’s tools while in the professional’s vehicle?

Building a business takes three skill sets, which is not one of those skill sets.

Businesses generally go through three phases of growth:

In which business structure are married owners taxed at the self-employed rate rather than allowing distributions to flow through to the owners’ personal taxes?

The most common flaw of business owners today is that most entrepreneurs work in the business rather than on the business.

Which of the following would not commonly be considered a compliance industry?

According to the author of the E Myth Revisited, Michael E. Gerber, what are the 2 primary ‘perspectives’ of new business owners?