What is retainage - Study guides, Class notes & Summaries

NCIDQ IDFX Practice Exam Questions with 100% correct Answers Latest Update 2024/2025 (Verified) When does the designer transfer all warranties and manuals? - correct answer when the designer is the seller of the goods when goods are shipped FOB destination, who has the title to them while in transit? - correct answer the seller when goods are shipped FOB factory, who has the title to them while in transit? - correct answer the buyer (transfer when goods leave the manufacturer/seller) what ...

Contractors Business/Law Exam With 100% Correct Answers 2024. If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? quarterly How many employees does it take for the Fair Labor Act to be applied? 1 What accounting method records income when the service occurs and expense when they are incurred? Accrual Method What do the General Conditions of a contract do? Outline roles of the owner, architect, and engineer. You are purchasing an insurance policy with a mon...

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...

VA Contractors: VA Advanced (Class A) Exam Question And Answers A lump sum contract on a project has a total contract price of $160,000. Retainage has been held back at 10%. The contractor has received progress payments for 75% of the project. The contractor submits a request for final payment for the new completed project. The final payment amount should be for... - ANS More than $50,000 What is the total value of current assets for an accrual basis company that has the following? Ch...

Which of the following is considered ethical behavior? correct answersFailing to disclose one subcontractor's bid to another. Which of the following is a TRUE statement about estimating? correct answersBoth overestimating and underestimating costs could have disastrous consequences. "Over Under Disastrous" For 1 month a company bills out $38,000 in completed work, and receives $22,000 in payments plus $8,000 from the previous month's billings. They pay their total bill of $26,000 to s...

Contractor Construction Management Questions and Answers with Certified Solutions An administrative fine that the board can impose for engaging in business or submitting a bid without a contractors license. $1000-$50000 How many days does the employer have to furnish a W-2 if an employee requests a copy 30 Business Owners who fail to comply with Workers compensation laws may have to pay fines of up to_______ or have their business closed until the insurance has been obtained. $15000 Use tax ...

Which of the following is considered ethical behavior? correct answersFailing to disclose one subcontractor's bid to another. Which of the following is a TRUE statement about estimating? correct answersBoth overestimating and underestimating costs could have disastrous consequences. "Over Under Disastrous" For 1 month a company bills out $38,000 in completed work, and receives $22,000 in payments plus $8,000 from the previous month's billings. They pay their total bill of $26,000 to s...

Between $110,000 and $120,000 In the previous year, a company had revenues of $500,000, project overhead of $40,000 and company overhead of $75,000. The company expects the percentage for project and company overhead to remain the same for the current year. The company desires to make a 10% profit on a project it is bidding. The project would have $80,000 in direct costs. What should the bid price be? Failing to disclose one subcontractor's bid to another Which of the following is cons...

Nascla Practice Test 1 Exam With 100% Correct Answers 2024. FOB freight prepaid requires _________ to pay for shipping charges. Seller (Chapter 14, page 11) Which of the following is not a member of the supervisory team? Foreman, Materials expediter, Owner's representative, Project manager Project Manager (Chapter 9, page 7) ________ scheduling consists of dates, delivery dates, payment schedule and vacations. It is a simplified method. Calendar (Chapter 9, page 2) When working in dwel...

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 implement...