Business Structure Investments June VP Bench SLA/Communication
100
Both Tom & Jerry
Tom & Jerry are in a partnership (50/50). Tom takes an inappropriate business action, who can potentially be affected?
100
True
"Companies have an obligation to repay loans over paying their shareholders." True or False?
100
We're aiming to become more efficient, always! (being more efficient in our tools & processes and being able to serve more clients as a result!)
What is this 'yellow brick road' we're on?
100
Active
We want to take a/an ______ approach when structuring our messages.
200
Additional Paid in Capital
What equity ledger does an S-Corp and C-Corp have in common?
200
a Promissory Note
Loans typically made from non-financial institutions are called ______
200
5000 points
What is the OTE for an AA in June?
200
Every Tuesdays from 11am-12pm
When are communication office hours?
300
They are taxed twice:
1)The company will be taxed directly for any revenue it earns
2) biz owner(s) and investor(s) will be taxed a second time at the individual level from any dividends and/or salary they get.
How are C-corps taxed?
300
SAFE Notes don't have a set deadline as to when the note must convert to equity.
Convertible Notes converts into shares either at a significant milestone (ie. biz reaching certain amount of sales) or at a predetermined max date.
What is the main difference between a SAFE Note & Convertible Note? (hint - think about when they convert to shares)
300
Complexity points! Using Complexity points as the language allows people to have the opportunity to unlock higher amounts of VP at an accelerated pace and lets us see the big picture in what we can possibly make.
Moving forward, are we focusing on complexity points submitted or % of portfolio submitted? Why?
300
• 24hr response time
• Books completed within 15 biz day from last day we receive all necessary docs
• Client updated at least once every 14 days
What are the 3 basic Bench SLAs?
400
• S-Corps are capped at 100 investors
• C-Corps allow foreign investors
• S-Corps only allow one type of stock
List the 3 main differences between an S-Corp and a C-corp in terms of allowing investors.
400
• Preferred Stockholders get dividends first (higher priority over income), while Common Stockholders are the last in line in getting money back
• Preferred Stockholders do not have voting rights whereas Common Stockholders do.
What are the two main differences between a Common Stock and Preferred Stock?
400
1. Submit reviews that are up to the most recent month
2. Take action on “on hold” reviews within 5 business days
3. Review and take action to improve on the feedback you get on the quality of your reviews
With this new VP update, what are the 3 things we are all going to continue to do?
500
• Sole Prop - no
• Partnership - yes! Drawing/Contribution closed to corresponding member's Capital, CYE closed to members' capital as per % share in the company.
• S-Corp - Yes. Shareholder Distribution
• C-Corp - Yes. Dividends (not all clients have this ledger!)
• NFP - No
Do you need an equity closing for these structures? If yes what does the equity closing look like?
Sole Prop, Partnership, S-Corp, C-Corp, NFP
500
• Loans - Liability
• Promissory Notes - Liability
• Stocks - Equity
• Convertible Notes - Liability
• SAFE Notes - Equity
Which Balance Sheet section are each of the below recorded under?
• Loans
• Promissory Notes
• Stocks
• Convertible Notes
• SAFE Notes
500
Answers can vary but should touch the following two points:
• Let's us achieve efficiency (ie. our Emerald City) together even quicker!
• Revisit what is actually a 'challenging but achievable' goal now that we have actual data
Why did we make an update to our June VP target?






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