VA Contractor License Exam 2 with Correct
answers
A company has $100,000 in current assets, $100,000 of long term assets, $50,000
of current liabilities, and $40,000 of term liabilities. The maximum bond of single
products for this company would typically be limited to
Working Capital = Current Asset - Current Liability - ✅✅ $500,000
Given the following information, what is the firms return on investment?
Current assets $80,000
Fixed assets $112,000
Current Liabilities $30,000
Inventory $12,000
Long term liabilities $86,000
Net annual income $57,000 - ✅✅ 29.7%
Formula for return on investment - ✅✅ Return on total assets ratio = Net income
/ Total assets
Given the following information, what is the firm's quick ratio?
Current assets $80,000
Fixed assets $112,000
, Current liabilities $30,000
Inventory $12,000
Long term liabilities $86,000
Net annual income $57,000 - ✅✅ 2.27%
Formula for quick ratio - ✅✅ Quick ratio = Current assets - Inventory / Current
Liabilities
What is the Virginia corporate income tax rate before modifications, credit, or
adjustments? - ✅✅ 6.0%
How many days from the last day of the month that labor and materials are
finished must a memorandum be filed? - ✅✅ 90 days
Given the following information, what is the firm's debt to equity ratio?
Current assets $80,000
Fixed assets $112,000
Current liabilities $30,000
Long term liabilities $86,000
Net annual income $57,000 - ✅✅ 1.53%
Formula for debt to equity ratio - ✅✅ Debt/Equity ratio = Total Debt/Equity
Formula for equity - ✅✅ Equity = Assets - Liabilities
An employer who repeatedly violates the overtime provisions of the Fair Labor
Standards Act is subject to a maximum fine of - ✅✅ $1,100 Per violation
answers
A company has $100,000 in current assets, $100,000 of long term assets, $50,000
of current liabilities, and $40,000 of term liabilities. The maximum bond of single
products for this company would typically be limited to
Working Capital = Current Asset - Current Liability - ✅✅ $500,000
Given the following information, what is the firms return on investment?
Current assets $80,000
Fixed assets $112,000
Current Liabilities $30,000
Inventory $12,000
Long term liabilities $86,000
Net annual income $57,000 - ✅✅ 29.7%
Formula for return on investment - ✅✅ Return on total assets ratio = Net income
/ Total assets
Given the following information, what is the firm's quick ratio?
Current assets $80,000
Fixed assets $112,000
, Current liabilities $30,000
Inventory $12,000
Long term liabilities $86,000
Net annual income $57,000 - ✅✅ 2.27%
Formula for quick ratio - ✅✅ Quick ratio = Current assets - Inventory / Current
Liabilities
What is the Virginia corporate income tax rate before modifications, credit, or
adjustments? - ✅✅ 6.0%
How many days from the last day of the month that labor and materials are
finished must a memorandum be filed? - ✅✅ 90 days
Given the following information, what is the firm's debt to equity ratio?
Current assets $80,000
Fixed assets $112,000
Current liabilities $30,000
Long term liabilities $86,000
Net annual income $57,000 - ✅✅ 1.53%
Formula for debt to equity ratio - ✅✅ Debt/Equity ratio = Total Debt/Equity
Formula for equity - ✅✅ Equity = Assets - Liabilities
An employer who repeatedly violates the overtime provisions of the Fair Labor
Standards Act is subject to a maximum fine of - ✅✅ $1,100 Per violation
