Qualify business as small for contracting purposes

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Reference no: EM132258608

1. If we look at the generic definition of a small business, how many employees does a small business have?

50 or less

500 or less

5 or less

5,000 or less

2. What is NOT a common reason a small business might fail?

Excess experience

Insufficient capital

failure to plan

Uncontrollable external forces

3. What criteria are used to qualify a business as "small" for contracting purposes?

Average Number of Employees OR Average Annual Receipts

Average Number of Employees AND Average Annual Receipts

Average Annual Receipts

Average Number of Employees

4. What is the preferred form of ownership for small businesses WITH employees?

Corporation

Partnership

Sole Proprietor

S-Corporation

Reference no: EM132258608

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