Exam 1: Organization of the Industry

State usually have their own building codes and state codes often require local building codes to be at least as strict as the state code.

Explain the advantages of sole proprietorship.

A ____________________ is a contractor who is brought into a project to work on only one part of the project, such as electrical or plumbing.

A business that is operated by a board of directors is called a __________.

In which of the following business types do the company owners enjoy limited liability?

In which of the following types of businesses are the owners not responsible for the company debts?

Whose seal must appear on the drawings before work can begin on a building?

Someone who owns a share of ____________________ is considered to own a share of the company.