TN BUSINESS AND LAW EXAM QUIZZES | 190
QUESTIONS AND ANSWERS | 2026 UPDATE WITH
COMPLETE SOLUTION
What shows the activity of duration and sequence of tasks to be completed?
Answer - bar chart
Which financial statement would one find depreciation on? Answer - income
statement
Medical treatment can be defined as: Answer - management and care of a
patient
Establishing (blank) will ensure that your customer is aware of your progress
and of any concerns that might arise Answer - communication
(blank) is defined as including real estate, lands, tenements, and hereditaments
Answer - real property
This is not a purpose of marketing: Answer - opening a checking account
What is the gross pay of a non exempt employee who works 50 hours during a
holiday week, and receives 8 hours additional pay for the holiday? The
employee earns $13.50 per hour Answer - $850.50
(13.5 x 48 = 648
,20.25 x 10 = 202.50
648 = 202.50 = 850.50)
This is not used as a guideline when obtaining a bond... Answer - non
experience
Use information from (blank) to help determine accurate job costs Answer -
previous jobs
If an employee earns $112,000 per year, what is the TOTAL amount of medicare
that both employer and employee is to pay in? Answer - $3,248
(112,000 x (1.45 x 2) = 3,248)
Who pays into FUTA? Answer - employer
An entrepreneur is a Answer - person
(blank) absolves the indemnified party from any payment for losses and
damages incurred by a third party Answer - indemnification
Which Form is used for Tennessee's Foreign Limited Partnership Registration?
Answer - SS-4473
Is insurance a guideline for a job description? Answer - no
An employer is liable to pay both state and federal employment taxes if wages
to employees total (blank) or more in any quarter of a calendar year Answer -
$1,500
, An independent contractor is usually paid by Answer - flat fee
What is the net income when there is an income of $92,000, expenses of
$24,000, and costs of goods sold is $34,000? Answer - $34,000
If D&K Construction's shareholders wish to limit their liabilities, they should
become a Answer - C Corporation
When starting a business, the first thing one should decide is Answer - the
legal structure of the business
FUTA tax base and tax rate is generally calculated at? Answer - current
prevailing rate
Which of the following insurance will protect an organization's officers from
liability? Answer - D and O
Worker's compensation is paid for by the Answer - employer
The following insurance provides coverage when damage has been caused by a
flood Answer - named-peril
Bids for the services of a construction manager must contain a bid bond in the
amount of (blank) of the work being bid Answer - 10%
Of the following, (blank) is not part of project overhead? Answer - clerical pay
QUESTIONS AND ANSWERS | 2026 UPDATE WITH
COMPLETE SOLUTION
What shows the activity of duration and sequence of tasks to be completed?
Answer - bar chart
Which financial statement would one find depreciation on? Answer - income
statement
Medical treatment can be defined as: Answer - management and care of a
patient
Establishing (blank) will ensure that your customer is aware of your progress
and of any concerns that might arise Answer - communication
(blank) is defined as including real estate, lands, tenements, and hereditaments
Answer - real property
This is not a purpose of marketing: Answer - opening a checking account
What is the gross pay of a non exempt employee who works 50 hours during a
holiday week, and receives 8 hours additional pay for the holiday? The
employee earns $13.50 per hour Answer - $850.50
(13.5 x 48 = 648
,20.25 x 10 = 202.50
648 = 202.50 = 850.50)
This is not used as a guideline when obtaining a bond... Answer - non
experience
Use information from (blank) to help determine accurate job costs Answer -
previous jobs
If an employee earns $112,000 per year, what is the TOTAL amount of medicare
that both employer and employee is to pay in? Answer - $3,248
(112,000 x (1.45 x 2) = 3,248)
Who pays into FUTA? Answer - employer
An entrepreneur is a Answer - person
(blank) absolves the indemnified party from any payment for losses and
damages incurred by a third party Answer - indemnification
Which Form is used for Tennessee's Foreign Limited Partnership Registration?
Answer - SS-4473
Is insurance a guideline for a job description? Answer - no
An employer is liable to pay both state and federal employment taxes if wages
to employees total (blank) or more in any quarter of a calendar year Answer -
$1,500
, An independent contractor is usually paid by Answer - flat fee
What is the net income when there is an income of $92,000, expenses of
$24,000, and costs of goods sold is $34,000? Answer - $34,000
If D&K Construction's shareholders wish to limit their liabilities, they should
become a Answer - C Corporation
When starting a business, the first thing one should decide is Answer - the
legal structure of the business
FUTA tax base and tax rate is generally calculated at? Answer - current
prevailing rate
Which of the following insurance will protect an organization's officers from
liability? Answer - D and O
Worker's compensation is paid for by the Answer - employer
The following insurance provides coverage when damage has been caused by a
flood Answer - named-peril
Bids for the services of a construction manager must contain a bid bond in the
amount of (blank) of the work being bid Answer - 10%
Of the following, (blank) is not part of project overhead? Answer - clerical pay
