Exam (elaborations)
NASCLA BUSINESS, LAW AND PROJECT MANAGEMENT (BASIC) PRACTICE TEST 2 QUESTIONS AND ANSWERS
- Course
- Institution
NASCLA BUSINESS, LAW AND PROJECT MANAGEMENT (BASIC) PRACTICE TEST 2 QUESTIONS AND ANSWERS
[Show more]
Content preview
Name: Score:50 Multiple choice questions
Term 1 of 50
Generally, _____ tax is not a business tax.
Income
Self-employment
Employment
Property
Term 2 of 50
A _____ bundles all cost factors for entire task.
Lump sum
Cost plus
Percent completion method
Unit price method
Term 3 of 50
_____ is NOT a purpose of marketing.
To bring in new customers
To retain existing customers
To increase cash flow
To hire employees
,Term 4 of 50
The return on total asset ratio is _____ when there is a net profit (after taxes) or $16,000 and total
assets of $48,000.
1/3
3/1
1/1
3/3
Term 5 of 50
A surety bond is typically a _____ party bond.
One
Two
Three
Four
,Term 6 of 50
A contractor pays a workers' compensation rate of $0.10 per $100 of office employee payroll,
$2.00 per $100 office employee payroll, and $0.36 per $100 of field employee payroll. Total
office employee payroll for the year is $35,000. Total field supervisor payroll is $58,000. Total
field employee payroll is $325,000. The contractor receives a discount of 5% of total premiums
for having a safety program in place. the total workers' compensation for the year is _____.
A. Less than $1,300.00
B. Between $1,300 and $1,700.00
C. Between $1,700 and $1,900.00
D. More than $2000
B. $32
13-12
A. Is a relationship between two or more people
2-2
0.10 x 35,000 = 35,000 (based on 100)
3,500/100 = 35.00 (Office payroll premium)
2.00 x 58,000 = 116,000/100 = 1,160 (Field S)
0.36 x 325,000 = 117,000 (Field E)
35+1160+1170 = 2365 - 5% = $2246.75
A. $50
$10 x 1.5 = $15/hr for overtime
$15 - $10 = $5/hr overtime premium
$5 x $10 (hours of overtime) = $50
Term 7 of 50
To help with cash flow, one should use _____.
A contract
Progress payments
A lawyer
An accountant
, Term 8 of 50
The MSDS provides for two main purposes: one purpose is product information; the other
purpose is _____ information.
Substance
Chemical
Sequence of activities
Emergency contact
Term 9 of 50
All businesses must file an annual income tax return except _____.
Corporation
Partnership
Sole proprietor
LLC
Term 10 of 50
_____ is a provision written into a contract that is used to limit risk in case of labor strikes.
Indemnification
Delays and extensions of time
Schedule acceleration
Force majeure
Term 11 of 50
A _____ bond guarantees that the contractor has paid the subcontractor.
Bid
Performance
Payment
Maintenance
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 selftest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77333 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now