Florida State Business & Finance Exam Study Guide - Volume 1- Section 1 (Business MGMT.) - Practice Test 2 Questions and Answers

Florida State Business & Finance Exam Study Guide - Volume 1- Section 1 (Business MGMT.) - Practice Test 2 Questions and Answers The difference between a Partnership and a Joint Venture is ________. - ANSWER The joint venture is usually limited to a single activity. Ray Romano has to decide to activate his plumbing license and open a business. Ray will be the sole proprietor. He filed his business name under the fictitious names act, as the Flush-em Out Company. He has to file for his SS-4 number within _______ days after his business has opened. - ANSWER Ray does not need a Federal ID number. Which of the following areas would address "corporation filing requirements", when planning a contracting business? - ANSWER Standardizing. Unless you are a sole proprietor, federal form of SS-4 must be filed on or before the _____________. - ANSWER Seventh day after the date on which business begins. When a partnership comes to an end, there are basically 3 steps which it goes through. These three steps are ______, _______, and _________. - ANSWER Dissolution, winding up, and termination.