Skip to main content

Firm organization

The liability of the shareholders of "Acme" architecture corp. is limited to their share of the ownership of the firm. However, the state in which the firm is located requires that professionals including doctors, lawyers, and architects must form what type of corporation to recognize the professional liability of such licensees?
A. PLLC, B. PC, C. S-Corp., D. LP




Answer is B. Professional Corporation is a form of corporation often mandated to cover certain licensed professionals. PLLC is similar but is not a corporation. S-Corp is a form of corporation allowing flow-thru tax liabilities. LP is limited partnership.
are-review.blogspot.com

Comments

Post a Comment

Try These Too!

Wood stairs

In wood stair construction, what is the difference between a carriage and a stringer?! Answer A carriage is the principle support for the treads and risers, whereas the stringer is the finish member (face) that treads and risers terminate against. ARE 4.0 exam prep: BDCS
Post a Comment
See the answer »

Bolted connections

What is the minimum spacing of bolts specified by AISC? and preferred spacing? A. 1 1/4 times the diameter of the bolt; 2 times preferred B. 1 3/4 times the diameter of the bolt; 2 1/4 times preferred C. 2 1/3 times the diameter of the bolt; 2 2/3 times preferred D. 2 2/3 times the diameter of the bolt; 3 times preferred E. 3 times the diameter of the bolt; 3.25 times preferred
Post a Comment
See the answer »

Brick bonds

What distinguishes the English Bond pattern from the Dutch Bond pattern in this image? Answer In the English Bond, stretchers are aligned; In the Dutch (cross), stretchers move by a half each course (not aligned). ARE 4.0 exam prep: BDCS
Post a Comment
See the answer »