Tài chính doanh nghiệpCâu 1235 / 1605
A contractor mixing personal and business funds in one account risks:
a.A higher current ratio
b.Losing the liability protection of his corporation or LLC (piercing the corporate veil) and messy tax records
c.Automatic license renewal
d.A lower sales tax rate
Giải thích
Commingling funds can let a court 'pierce the corporate veil,' exposing the owner's personal assets, and it makes tax and job-cost records unreliable. Keeping business and personal finances separate is a fundamental protection.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A balance sheet is said to 'balance' because:
- A contractor factors (sells) $50,000 of receivables to a factor who advances 90% now and charges a 3% fee on the face amount. How much cash does the contractor receive up front, and what is the fee?
- A contractor's income statement is prepared monthly, but the balance sheet is dated December 31. This is because:
- A contractor pays estimated federal taxes of $6,000 per quarter. If he skips a quarter to fund payroll and pays it late, the likely consequence is:
- A contractor with a 2.0 current ratio has $160,000 in current liabilities. What are his current assets?
- A contractor's markup covers overhead and profit. If direct costs are $80,000 and he applies a combined 25% O&P markup, the profit portion is $8,000 while overhead recovery is $12,000. What is the contract price and total O&P?
Cập nhật gần nhất: · quy trình kiểm tra
Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)