FLORIDA CONTRACTORS MANUAL FINAL EXAM 2024
ACTUAL EXAM COMPLETE ACCURATE EXAM
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY GRADED A+
All of the following are true regarding a general partnership except: - ANSWER:
There is a potential taxation on earnings
A joint venture is: - ANSWER: Two or more persons or entities jointly seeking a profit
in some specific venture without an actual partnership or corporation designation
Which of the following is true regarding a joint venture? - ANSWER: A joint venture is
generally limited to a single transaction
One advantage of a standard corporation is: - ANSWER: Fringe benefits are tax
deductible
Which of the following is an advantage of an S Corporation? - ANSWER: As sole
proprietors, income or losses are reported as to an individual taxpayer.
Which of the following is an advantage of a regular corporation? - ANSWER: tax
deductible fringe benefits
Which of the following statements is true concerning an S Corporation? - ANSWER:
Only individuals or estates can be shareholders
Occupational licenses may be required for every business and are issued by the: -
ANSWER: Counties and Cities
A person may engage in business under a fictitious name with the: - ANSWER:
Division of Corporations
How long is a registered fictitious name valid for? - ANSWER: 5 years
Unless you are a sole proprietor, federal form SS-4 must be filed on or before the : -
ANSWER: Seventh day after the date on which business begins
According to the Florida Contractors Manual, a partnership can be dissolved for all of
the following except : - ANSWER: By order of the Florida DBPR
Which agency oversees engineers in the state of florida? - ANSWER: Board of
Professional Engineers
How are Florida sales tax reported and paid? - ANSWER: Reported on a form DR-15-
CS and paid on a monthly basis
ACTUAL EXAM COMPLETE ACCURATE EXAM
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY GRADED A+
All of the following are true regarding a general partnership except: - ANSWER:
There is a potential taxation on earnings
A joint venture is: - ANSWER: Two or more persons or entities jointly seeking a profit
in some specific venture without an actual partnership or corporation designation
Which of the following is true regarding a joint venture? - ANSWER: A joint venture is
generally limited to a single transaction
One advantage of a standard corporation is: - ANSWER: Fringe benefits are tax
deductible
Which of the following is an advantage of an S Corporation? - ANSWER: As sole
proprietors, income or losses are reported as to an individual taxpayer.
Which of the following is an advantage of a regular corporation? - ANSWER: tax
deductible fringe benefits
Which of the following statements is true concerning an S Corporation? - ANSWER:
Only individuals or estates can be shareholders
Occupational licenses may be required for every business and are issued by the: -
ANSWER: Counties and Cities
A person may engage in business under a fictitious name with the: - ANSWER:
Division of Corporations
How long is a registered fictitious name valid for? - ANSWER: 5 years
Unless you are a sole proprietor, federal form SS-4 must be filed on or before the : -
ANSWER: Seventh day after the date on which business begins
According to the Florida Contractors Manual, a partnership can be dissolved for all of
the following except : - ANSWER: By order of the Florida DBPR
Which agency oversees engineers in the state of florida? - ANSWER: Board of
Professional Engineers
How are Florida sales tax reported and paid? - ANSWER: Reported on a form DR-15-
CS and paid on a monthly basis
