What is retainage - Study guides, Class notes & Summaries

NASCLA Sample Exam Questions With 100% Correct Answers Which of the following is included in a company's general overhead costs? Performance Bonds Withholding Taxes Costs for equipment purchase and rentals The company's administrative expenses - answerThe company's administrative expenses What is the purpose of ventilating unconditioned spaces? To control moisture Dehumidification Control oxygen levels Temperature Control - answerTo control moisture Oxygen Cylinders shall be store...

NASCLA PSI EXAM PRACTICE QUESTIONS WITH VERIFIED SOLUTIONS FOB freight prepaid requires __________ to pay for shipping charges Seller 14-12 Which of the following is not a member of the supervisory team? Project manager 9-7 __________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a simplified method. Calendar 9-3 When working in dwelling that was built prior to 1978, the employer is to provide each occupant with a pamphlet title _________? ...

Contractors Business Law Exam Questions and Answers, Latest Updated 2024/2025 (GRADED A+) If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? (Ans- quarterly How many employees does it take for the Fair Labor Act to be applied? (Ans- 1 What accounting method records income when the service occurs and expense when they are incurred? (Ans- Accrual Method What do the General Conditions of a contract do? (Ans- Outline roles of the owner, architect, and engineer....

A lump sum contract on a project has a total contract price of $200,000. Retainage has been held back at 10%. The contractor has received progress payments of 90% of the project. The contractor submits a request for the final payment for the now completed project. The final payment amount should be for A. less than 25,000$ b. between 25,000$ & 35,000$ c. between 35,000$ & 40,000$ d. more than 40,000$ Ans: c. between 35,000$ & 40,000$ A contractor agrees to unit price contract to Prod...

If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? (Ans- quarterly How many employees does it take for the Fair Labor Act to be applied? (Ans- 1 What accounting method records income when the service occurs and expense when they are incurred? (Ans- Accrual Method What do the General Conditions of a contract do? (Ans- Outline roles of the owner, architect, and engineer. You are purchasing an insurance policy with a monthly premium of $300. If you im...

Practice Exam for CEE 4100 Test 2 Questions and Answers Actual Cost of Work Performed (ACWP) - CORRECT ANSWER-Actual work hours or dollars to date represent what has been paid Banks Evaluation - CORRECT ANSWER-Contractors = high risk, so loan only thru inventories and partially complete with high interest rate Bid estimate - CORRECT ANSWER-Contractor prepares estimate of job's cost with markup for profit Budgeted Cost at Completion (BCAC) - CORRECT ANSWER-original project estimate Budgeted...

regulates the building profession, including the work and licensing - Answer department of licensing and regulatory affairs Why is a builder's license required to perform residential work and not for commercial building? - Answer There is more fraud in residential building. What does a builder's license qualify the licensed builder to do? - Answer Build all of the home except for mechanical features. How long does the contractor have to complete both sections of the licensing ex...

NASCLA Sample Exam Questions With 100% Correct Answers Which of the following is included in a company's general overhead costs? Performance Bonds Withholding Taxes Costs for equipment purchase and rentals The company's administrative expenses - answerThe company's administrative expenses What is the purpose of ventilating unconditioned spaces? To control moisture Dehumidification Control oxygen levels Temperature Control - answerTo control moisture Oxygen Cylinders shall be store...

NASCLA Sample Exam Questions With 100% Correct Answers Which of the following is included in a company's general overhead costs? Performance Bonds Withholding Taxes Costs for equipment purchase and rentals The company's administrative expenses - answerThe company's administrative expenses What is the purpose of ventilating unconditioned spaces? To control moisture Dehumidification Control oxygen levels Temperature Control - answerTo control moisture Oxygen Cylinders shall be store...

Contractors Business Law Exam Questions and Answers, Latest Updated 2024/2025 (GRADED A+) If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? (Ans- quarterly How many employees does it take for the Fair Labor Act to be applied? (Ans- 1 What accounting method records income when the service occurs and expense when they are incurred? (Ans- Accrual Method What do the General Conditions of a contract do? (Ans- Outline roles of the owner, architect, and engineer....