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.

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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
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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
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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]
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5
Q

Form 6’s Pattern summarized.

A
FORM 6
-----------
$1K = everything.
1st inc:  $1k
2d inc:  $1k + 5%
assets:  $1k
crdtrs:   $1k
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