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TN Contractors License questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating $7.99   Add to cart
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TN Contractors License questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating
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  • Commercial Construction
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  • Commercial Construction

TN Contractors License questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating

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  • August 5, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Commercial Construction
  • Commercial Construction

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TN Contractors License
Accounting Cycle Steps - ANS-1. Analyze business transactions
2. Journalize the transactions
3. Post to ledger accounts
4. Prepare a trial balance
5. Journalize and post adjusting entries
6. Prepare an adjusted trial balance
7. Prepare financial statements
8. Journalize and post closing entries
9. Prepare a post-closing trial balance

At-Will Employees - ANS-Employer or employee can terminate employment at any time

Bookkeeping - ANS-Recording of finacial transactions

Builders Risk Insurance - ANS-Insurance coverage for construction project in process

Business Owners Policy (BOP) - ANS-A policy that combines property, liability and business
interruption coverage for small- to medium-sized businesses.

Business Plan - ANS-Cover Page, Executive Summary, Company Summary, Products/Services,
market analysis, market strategy, finanicial plan

C Corporation - ANS-The most common type of corporation, which is a legal business entity that
offers limited liability to all of its owners, who are called stockholders

COBRA - ANS-Consolidated Omnibus Budget Reconciliation Act

Commercial General Liability Insurance - ANS-Insurance coverage for bodily damage, loss of
property of others, personal injury, and advertising

Contractors License - ANS-Needed for those doing work over $25,000 - includes subs in MEP

Entrepreneur - ANS-A person who starts up and takes on the risk of a business

Equipment floater policy - ANS-Direct loss coverage for equipment onsite and in transit

Fair Labor Standards Act (FLSA) - ANS-Federal law that establishes a minimum wage and
requirements for overtime pay and child labor

Form I-9 - ANS-Employment Eligibility Verification - Legal Resident

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