TN Business and Law Exam Questions and Answers Solved 100%

29 CFR 1904 - recording and reporting injuries 29 CFR 1910 - occupation safety health standards 29 CFR 1926 - safety and health regulations for the construction industry accelerated depreciation method - the asset is depreciated at a higher rate during the early part of its useful life permitting larger tax deductions account - register of value Accounting Process for Materials - purchase orders help track material inventories and related expenses in the accounting system. invoices should be matched with purchase orders to ensure that the billing is accurate accounts receivable - monies that are owed to a business for products and/or services provided accurate method - recognize income when the services occur, not when you collect money, same with expenses Addendum - changes made to bid documents after they are issued but before they are due Advantages of a C Corporation - separate legal entity, limited liability for stockholders, unlimited life of the business, availability of capital resources, transfer of ownership though stock Advantages of a General Partnership - ease of formation, direct profit rewards, larger management base than that of a sole proprietorshipAdvantages of a LLC - limited disclosure of owners, limited documentation, no advance IRS filings, no public disclosure of finances, limited liability for managers and members, ability to delegate management to non members Advantages of a Sole Proprietorship - minimal legal restrictions, simple ownership form, low startup cost, sole owner of profits, freedom in decision making AGC - Associated General Contractors of America Age Discrimination in Employment Act - outlaws discrimination against people older than 40 years AIA - American Institute of Architects Air Quality - indoor and outdoor quality should be monitored throughout the construction project All-Risk Builders' Risk Insurance - a form of property insurance that covers property owners and builders for buildings under construction typically covering machinery, equipment, materials, supplies, and pictures that are part of the structure o will become part of the structure