Utah General Contractor's Course - Business and Law Questions and
Answers with Verified Solutions | Latest 2026 Update
Q: to cover themselves?
Answer:
no A/an ___________covers the equipment on the premises, during transport and at
the job site. This also covers tools and equipment that would typically be excluded
by the all risk insurance. equipment floater Also known as a Completion Bond, this
guarantees that the project will have no claims or liens placed against it - all subs,
laborers and suppliers will be paid. Payment Bond Utah public construction projects
over $50,000 require __________ bonds to ensure that plans and specifications will
be followed, and that suppliers and subcontractors are paid. Payment Anyone who
has employed at least one person for some part of a day in each of 20 different
calendar weeks or paid wages of $______ or more in any calendar quarter must pay
Unemployment Insurance. 1,500 All employers in Utah except sole proprietors or
partners with no employees must provide Workers' Compensation coverage. True An
employee can disqualify themselves from unemployment benefits if they are
involved in a strike or labor dispute. True All Department of Transportation contracts
require performance and payment bonds in the amount of ________ % of the
estimated cost of the work. 100 The benefits of managing risk for your company are:
1 lower premiums 2 lower risk of being sued
,Q: 3 better chance to win a lawsuit 4 all of the above What Federal Form do
employers have new employees complete in order for the employer to determine
the correct amount of federal income tax to withhold from the employee's
paycheck?
Answer:
W-4 What is used by the federal government to identify the tax accounts of
employers? EIN number What federal act provides for the lawful deduction of an
employee's wages to pay for old age, survivors, disability and hospital insurance?
Federal Insurance Contributions Act (FICA) Employers are required to match the
contribution paid by employees for: 1 Social Security Tax 2 Medicare Tax 3 Federal
Income Tax 4 Both a & b 4 Both a & b Employers are subject to provide both State
unemployment insurance and Federal unemployment insurance for their employees
when: 1 they have at least one employee in 20 different calendar weeks during a
calendar year. 2 They have a payroll of at least $1,500 in any calendar quarter. 3
From the first day of employment. 4 Both a & b 4 Both a & b Both employers and
employees pay federal unemployment taxes. false
, Q: What Federal tax form would a corporation file for annual return of income?
Answer:
1120 Federal law generally requires that sole proprietors, partners, and
S-Corporations make estimated tax payments if they expect to owe at least _______
in taxes for the current year. $1,000 You must pay self-employment taxes if your net
earnings were ________ or more. $400 As an employer, you are responsible for
filing which of the following employment taxes? 1 federal unemployment tax 2
federal income tax 3 social security tax 4 all of the above 4 all of the above If you are
a sole proprietor, do you need to file for an Employer Identification Number? No
How long should tax records be preserved in order to be examined by the Utah Tax
Commission? 3 years Corporations in Utah are required to pay estimated tx if the tax
liability for the current year is $______ or more. 3,000 Employers located inside of
Utah who pay wages, and employers located outside of Utah who pay wages to Utah
residents, must register with the Utah State Tax Commission to get a state
withholding tax account. True
Answers with Verified Solutions | Latest 2026 Update
Q: to cover themselves?
Answer:
no A/an ___________covers the equipment on the premises, during transport and at
the job site. This also covers tools and equipment that would typically be excluded
by the all risk insurance. equipment floater Also known as a Completion Bond, this
guarantees that the project will have no claims or liens placed against it - all subs,
laborers and suppliers will be paid. Payment Bond Utah public construction projects
over $50,000 require __________ bonds to ensure that plans and specifications will
be followed, and that suppliers and subcontractors are paid. Payment Anyone who
has employed at least one person for some part of a day in each of 20 different
calendar weeks or paid wages of $______ or more in any calendar quarter must pay
Unemployment Insurance. 1,500 All employers in Utah except sole proprietors or
partners with no employees must provide Workers' Compensation coverage. True An
employee can disqualify themselves from unemployment benefits if they are
involved in a strike or labor dispute. True All Department of Transportation contracts
require performance and payment bonds in the amount of ________ % of the
estimated cost of the work. 100 The benefits of managing risk for your company are:
1 lower premiums 2 lower risk of being sued
,Q: 3 better chance to win a lawsuit 4 all of the above What Federal Form do
employers have new employees complete in order for the employer to determine
the correct amount of federal income tax to withhold from the employee's
paycheck?
Answer:
W-4 What is used by the federal government to identify the tax accounts of
employers? EIN number What federal act provides for the lawful deduction of an
employee's wages to pay for old age, survivors, disability and hospital insurance?
Federal Insurance Contributions Act (FICA) Employers are required to match the
contribution paid by employees for: 1 Social Security Tax 2 Medicare Tax 3 Federal
Income Tax 4 Both a & b 4 Both a & b Employers are subject to provide both State
unemployment insurance and Federal unemployment insurance for their employees
when: 1 they have at least one employee in 20 different calendar weeks during a
calendar year. 2 They have a payroll of at least $1,500 in any calendar quarter. 3
From the first day of employment. 4 Both a & b 4 Both a & b Both employers and
employees pay federal unemployment taxes. false
, Q: What Federal tax form would a corporation file for annual return of income?
Answer:
1120 Federal law generally requires that sole proprietors, partners, and
S-Corporations make estimated tax payments if they expect to owe at least _______
in taxes for the current year. $1,000 You must pay self-employment taxes if your net
earnings were ________ or more. $400 As an employer, you are responsible for
filing which of the following employment taxes? 1 federal unemployment tax 2
federal income tax 3 social security tax 4 all of the above 4 all of the above If you are
a sole proprietor, do you need to file for an Employer Identification Number? No
How long should tax records be preserved in order to be examined by the Utah Tax
Commission? 3 years Corporations in Utah are required to pay estimated tx if the tax
liability for the current year is $______ or more. 3,000 Employers located inside of
Utah who pay wages, and employers located outside of Utah who pay wages to Utah
residents, must register with the Utah State Tax Commission to get a state
withholding tax account. True
