A Port St. Lucie contracting business has this licensing issue: only qualifier leaves the business. What compliance risk should the office recognize?
Correct Answer
D) qualifier status problem
Chapter 489 ties business organization contracting authority to the certified or registered qualifying agent and related affiliation duties.
Why This Is the Correct Answer
Chapter 489 ties business organization contracting authority to the certified or registered qualifying agent and related affiliation duties.
Why the Other Options Are Wrong
Option A: sales-tax resale issue
sales-tax resale issue belongs to a different file or record trail; it does not prove the qualifying agent status event.
Option B: lien release defect
lien release defect belongs to a different file or record trail; it does not prove the qualifying agent status event.
Option C: workers compensation audit
workers compensation audit belongs to a different file or record trail; it does not prove the qualifying agent status event.
Memory Technique
File Business Manager where the next reviewer would look first.
Reference Hint
Open-book path: tab Florida Statutes Chapter 489 to Sections 489.119 and 489.127, Business organizations and prohibited acts; confirm the Florida statutory or Department of Revenue rule before answering.
More Business & Finance Questions
The Cedar Key subcontract closeout file requires 44 final releases, and 31 have been received. How many releases are missing?
A Florida GC prepaid $18,000 for annual insurance and expenses it evenly by month. After 7 months have expired, what prepaid asset remains?
The West Miami system access list starts with 22 active users, adds 4, and removes 7. How many active users should remain?
The Winter Park bank review shows a bank balance of $124,600, book balance of $119,400, and known timing items of $3,200. What unexplained difference remains?
The Riverview bank review shows a bank balance of $87,500, book balance of $90,400, and known timing items of $1,600. What unexplained difference remains?
A Satellite Beach contractor had 4 separations during the quarter and an average headcount of 32. What turnover rate should HR report?
A Winter Park startup budgets monthly overhead of $61,500 and wants a 4-month operating reserve. What reserve should be funded?
A Royal Palm Beach customer account has unpaid approved invoices of $126,000. Company policy requires review when unpaid invoices exceed $100,000. What status applies?
A Wildwood contractor had 9 separations during the quarter and an average headcount of 60. What turnover rate should HR report?
A Clermont field group had 64 absence hours out of 1280 scheduled hours. What absence rate should be reported?
People Also Study
Related Study Resources
Previous Question
Before awarding a Aventura subcontract, the file shows limited financial capacity. Which prequalification step should be completed?
Next Question
Fern Park ending receivables are $388,000, and the allowance for doubtful accounts is estimated at 2.25% of receivables. What allowance should be recorded?