6 Flashcards
1
Q
What is significance of 6 months in a Bond referendum?
A
If fails, must wait 6 months to hold a new referendum.
2
Q
State Form 1’s Pattern.
A
FORM 1 ----------- 1st inc: $2.5k or 5% --------------------------- x 2 ($) 2d inc: $5k or 5% --------------------- x 2 (% + $) assets: $10k or 10% credtrs: $10k or exc worth
3
Q
Form 1’s Pattern summarized.
A
1st Inc: $2.5 OR 5% 2d Inc: disclose bus + 10% gross BUS cust if: own 5% + rec $5k OR own 5% + rec $1.5k + 10% INDIV gross inc ----------- RE: own 5%. ----------- Intang: $10k value OR 10% of assets Debts: $10k OR exceed net worth
4
Q
State Form 6’s Pattern.
A
FORM 6 ----------- 1 ---------- 1+5% ---------- 1 ---------- 1 1) Income over $1k. 2) 2nd Income = over $1k AND own 5% 3) Assets over $1k. 4) Creditors owed $1k. 5) Net work [assets - creditor = new worth]
5
Q
Form 6’s Pattern summarized.
A
FORM 6 ----------- $1K = everything. 1st inc: $1k 2d inc: $1k + 5% assets: $1k crdtrs: $1k
