Exam (elaborations)
COMMERCIAL CONTRACTOR PRACTICE EXAM QUESTIONS AND ANSWERS
- Course
- Institution
COMMERCIAL CONTRACTOR PRACTICE EXAM QUESTIONS AND ANSWERS
[Show more]
Seller
Follow
Victorious23
Reviews received
Content preview
COMMERCIAL CONTRACTOR PRACTICE EXAMQUESTIONS AND ANSWERS
An employee earns $12.50 per hour. What is the gross pay of this non-
exempt employee who works 45 hours during a holiday week, and receives 8
hours additional pay for the holiday?
A.$562.50
B.$662.50
C.$693.75
D.$743.75 - -C.$693.75
-Which of the following statements about a sole proprietorship is TRUE?
A. The business, or any part of it, can be sold, altered, or exchanged at will.
B. The business will survive the death of the owner.
C. It provides the owner with limited liability for debts and actions of the
business
D. The business is not subject to Federal income tax. - -A.The business, or
any part of it, can be sold, altered, or exchanged at will.
-What is the name of the process when a facilitator meets with the major
participants in a project, prior to the commencement of the project, to
identify the shared goals of all participants?
A. Partnering
B. Arbitration
C. Mediation
D. Claims resolution - -A.Partnering
-How much is an employer who withheld employee Medicare and Social
Security taxes or $765 REQUIRED to send to the IRS?
A. $145
B. $620
,C. $765
D. $1,530 - -D.$1530
-Records of an employee's exposure to hazardous materials MUST be kept a
MINIMUM of how many years?
A. 3 years
B. 7 years
C. 15 years
D. 30 years - -D.30 years
-What can be determined by summing the project activities into an overall
schedule?
A. The total resource demand for a project at any given time.
B.The total amount that the company will earn from the job.
C.The total insurance needs of the company.
D.The total man-hours needed for all projects. - -A.The total resource
demand for a project at any given time.
-What MUST be done with the taxes withheld by an employer between the
time that they are withheld and the time that they are sent to the IRS?
A. The taxes can be kept in the general company account.
B. The taxes must be kept in a savings account.
C. The taxes must be held in a separate account and not used for anything
else.
, D. The taxes can be used to temporarily pay the company's expenses. - -
C.The taxes must be held in a separate account and not used for anything
else.
-Costs that relate to construction but are not directly associated with labor
and materials for a specific project are considered to be which of the
following?
A. overhead burden
B. company overhead
C. project overhead
D. variable overhead - -C.project overhead
-What is the average collection period ratio for a firm that has $365,000 in
annual revenues, $6,600 in current receivables, and net income of $32,000?
A. 4.8
B. 6.6
C. 11.4
D. 55.3 - -B.6.6
-Which is an advantage of a Critical Path Method (CPM) schedule?
A. It is the easiest to interpret
B. It identifies the cash flow needs at any point in the project.
C. It most clearly shows all the activities needed to complete the project.
D. It identifies activities that must be completed before other activities can
occur. - -D.It identifies activities that must be completed before other
activities can occur.
-An employee can request to receive advance earned income credit on Form
A. w-2
B. w-3
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 Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now