Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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In the sale of a business, which generally involves 12 steps, what happens with the assets early in the process?

Business assets and personal assets are combined.
Business assets are separated from personal assets.
Business assets are subtracted from liabilities.
Business assets are subtracted from the value of the business.

The correct answer is: Business assets are separated from personal assets.

In a sale of a business, it is important to keep business and personal assets separate in order to accurately determine the value of the business and ensure a fair transaction. If business assets are combined with personal assets, it could skew the valuation and potentially result in a lower sale price for the business owner. Subtracting business assets from liabilities, as in option C, does not accurately reflect the value of the business. Option D is also incorrect because business assets are not simply subtracted from the value of the business in the early stages of the sale process, but rather they are scrutinized and evaluated in detail. Therefore, the correct answer is option B, as it accurately describes the handling of assets in the sale of a business.