Three partners, Noah, Evan & Steven form a partnership. Noah invests $30,000; Steven invests $20,000 and Evan invests $15,000. In addition, Noah performs specific management functions for which he is paid $5,000 from the partnership proceeds. If the partnership earns $244,000, how much will Noah receive?
A. Less than $70,000
B. Between $70,000 -$90,000
C. Between $90,000-$110,000
D. More than $110,000
D. More than $110,000
1-12

If the above partnership were dissolved, showing a net loss of $60,000, how much would Noah owe?
A. $60,000
B. $4,666
C. $20,000
D. $0.00
A. $60,000
1-13

According to the Contractor's Manual, starting capital should be enough to cover living expenses for between which of the following?
A. 3 months to a year
B. 6 months to a year
C. 9 months to a year
D. at least a year
A. 3 months to a year
1-17

A Partnership will be dissolved if which of the following applies?
A. UnlawfuI Activity
B. Failing to have a primary qualifying agent
C. A court decree under the partnership act
D. A and C 1-29
D. A and C 1-29
1-29

A properly registered fictitious name is valid for ________________
A. 1 year
B. 2 years
C. 3 years
D. 5 years
D. 5 years
1-15

Which of the following would have jurisdiction over dredging or excavation of navigable waters and wetlands?
A. U.S. Dept. of the Interior
B. Florida Dept. of State
C. Florida Dept.of Transportation
D. U.S Army Corps of Engineers
D. U.S Army Corps of Engineers
1-16

The name of the form which is used to apply for sales tax is?
A. W2
B. DR-1
C. S1
D. W4
B. DR-1
1-21

Which of the following is NOT true about a fictitious name registration?
A. Valid for 5 years.
B. The fictitious name must be advertised at least one time.
C. If a change of ownership occurs, the owner(s) of record must file a cancellation and registration within 45 days of filing,
D. Fictitious name registration must be renewed between July 1 and December 31 in the expiration year.
C. If a change of ownership occurs, the owner(s) of record must file a cancellation and registration within 45 days of filing,