Va contractors Exam- Practice Questions with Correct Answers
3 views 0 purchase
Course
VA Contractors
Institution
VA Contractors
When does Virginia require employers to have Workers Comp Insurance?
b ) When employers regularly employ 3 or more part time or full time employees.
Which of the following is a true statement about how a contractor may utilize payroll taxes?
b ) They can only be used for paying withholding taxes...
Va contractors Exam - Practice Questio ns with Correct Answers When does Virginia require employers to have Workers Comp Insurance? b ) When employers regularly employ 3 or more part time or full time employees. Which of the following is a true statement about how a contractor may utilize payroll taxes? b ) They can only be used for paying withholding taxes to the government. If your FUTA tax liability is less than $500 your deposit must be a ) In the next quarter. What is the SUTA employee wage base that the employer has to pay to the IRS? b ) $8,000. What is the FUTA employee wage base that the employer has to pay to the IRS? c ) 7,000. A small construction company is currently growing very rapidly. The new contracts are all long -
term contracts for large projects. Which is true about the contractor accounting system? c ) The percentage of completion method will result in a close matching of revenues and expenses. A bid bond ensures the: b ) Owner that the contractor will enter into the contract in accordance with the submitted bid. Which of the following is a true statement about how a contractor may utilize payroll taxes ? b ) They can only be used for paying withholding taxes to the government. If your FUTA tax liability is less than $500 your deposit must be.. a ) In the next quar ter How many hours does have a "workweek" according to the FLSA ? a ) 168 When a company submits payroll taxes to IRS. it must .. b ) Show formal documentation to IRS that all employees added to the payroll have completed a W-4 Form. The Miller act: c ) Pr ovides protection for subcontractors on public projects Gross profit less expenses equals: b ) Net income Requires paying prevailing wages in federally financed projects. c ) Davis -Healey act. An owner of a business has $32,000 in liabilities and $39.000 i n equity. What are the assets? c ) $71.000 The total for an individual's Medicare is taxed at : a ) 2.9 Minimum wage is set at (7.25 ) per hour c ) 7.25 Which of the following is not covered under the ADA ? c ) Paper cut Which of the following establishes an employee's eligibility to legally work in the US ? d ) U.S. passport Form I -9 must be kept for at least ( 3 ) years from the date of hire. c ) 3 To help with cash flow, one should use ( progress payment ) a ) Progress payment All the following except ( Lay off ) is an effective of attracting good employees. d ) Lay off If one is to receive earned income credit, one should use which IRS Form? c ) W -5 Which of the following is used to obtain an EIN ? b ) SS -4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.69. You're not tied to anything after your purchase.
