Question

question 1 (5 points)
lisa has been working a full-time job and then working on her business in the evening. she makes $6,000 per month at her full-time job. how much income should lisa be making from her business before quitting her full-time job?
$1,800
$2,000
$4,000
$6,000

question 2 (5 points)
micah has been working as a fitness trainer at a gym. he plans on opening a new gym of his own three blocks down the street. however, if he does this he will be in violation of the ______ he signed when he took the job, which prevents him from starting a gym within five miles of his employer.
taxpayer identification form
1099 form
noncompete agreement
exclusive account agreement

Explanation:

Analyze Question 1

Lisa makes \$6,000 per month at her full-time job. To mitigate risk and ensure financial stability before quitting her full-time job, a standard business planning guideline is to replace her entire current income, which is \$6,000.

Analyze Question 2

Micah plans to open a gym three blocks away from his current employer, which is within a five-mile radius. An agreement that prevents an employee from starting a competing business within a certain distance or timeframe is a noncompete agreement.

Answer:

Question 1

• (A) $1,800
• (B) $2,000
• (C) $4,000
• (D) $6,000 (Correct answer)

Question 2

• (A) taxpayer identification form
• (B) 1099 form
• (C) noncompete agreement (Correct answer)
• (D) exclusive account agreement