CM 4211 EXAM REVIEW 2026 FULL
QUESTIONS WITH CORRECT SOLUTIONS
◉A S Corp has the benefit of. Answer: Same protection as LLC
◉In sole proprietorship there is a legal seperation between the
owner and the business.. Answer: False
◉How many years can an 8(a) participant be in the program?.
Answer: 9 years
◉All states offer asset protection for LLCs with a single owner..
Answer: False
◉What company structure increases liability for managers and
members?. Answer: None of the above
◉Some states charge extra fee for operating an LLC.. Answer: True
◉LLC are businesses that are time consuming, difficult, and more
expensive to create.. Answer: False
, ◉Sole proprietorship are the simplest form of business structure
and are?. Answer: Easy and cheap to start due to few government
rules.
◉Sole Proprietors cannot sell what to raise money.... Answer: Shares
or Interest
◉A verb that describes the act of forming a business entity. Answer:
Incorporation
◉To qualify as a DBE entity, the organization must qualify for one of
the federally recognized disadvantaged populations.. Answer: True
◉A C Corporation can be subject to __ and issue __. Answer: Double
Taxation, Stock
◉A noun that describes a type of business entity. Answer:
Corporation
◉For a Federal SBA Service-Disabled Veteran Owned Business to
qualify for the classification it must have arating of:. Answer: 0%
◉Which company structure allows for holding appreciating assets,
real estate, and stock portfolios?. Answer: LLC
QUESTIONS WITH CORRECT SOLUTIONS
◉A S Corp has the benefit of. Answer: Same protection as LLC
◉In sole proprietorship there is a legal seperation between the
owner and the business.. Answer: False
◉How many years can an 8(a) participant be in the program?.
Answer: 9 years
◉All states offer asset protection for LLCs with a single owner..
Answer: False
◉What company structure increases liability for managers and
members?. Answer: None of the above
◉Some states charge extra fee for operating an LLC.. Answer: True
◉LLC are businesses that are time consuming, difficult, and more
expensive to create.. Answer: False
, ◉Sole proprietorship are the simplest form of business structure
and are?. Answer: Easy and cheap to start due to few government
rules.
◉Sole Proprietors cannot sell what to raise money.... Answer: Shares
or Interest
◉A verb that describes the act of forming a business entity. Answer:
Incorporation
◉To qualify as a DBE entity, the organization must qualify for one of
the federally recognized disadvantaged populations.. Answer: True
◉A C Corporation can be subject to __ and issue __. Answer: Double
Taxation, Stock
◉A noun that describes a type of business entity. Answer:
Corporation
◉For a Federal SBA Service-Disabled Veteran Owned Business to
qualify for the classification it must have arating of:. Answer: 0%
◉Which company structure allows for holding appreciating assets,
real estate, and stock portfolios?. Answer: LLC
