NASCLA Business, Law and Project Management (Basic) - Practice Test 2 | 2024 Questions & Answers | 100% Correct | Verified

The _____ method recognizes income when the employer has done the work but has not received the income. A. Accrual B. Appreciation C. Depreciation D. Cash - A. Accrual 13-7 A _____ bundles all cost factors for entire task. A. Lump sum B. Cost plus C. Percent completion method D. Unit price method - D. Unit price method 6-7 _____ requires paying prevailing wages in federally-financed projects. A. Service Contract Act B. Walsh-Healey Act C. Wage Garnishment Law D. Davis-Bacon Act - D. Davis-Bacon Act10-7 _____ absolves the indemnified party from any payment for losses and damages incurred by a third party. A. Indemnification B. Delays and extensions of time C. Schedule acceleration D. Force majeure - A. Indemnification 7-4 An Emergency Action plan should include _____. A. Student's name B. Employer's name C. Administrator's name D. Next of kin - C. Administrator's Name 11-3 The MSDS provides for two main purposes: one purpose is product information; the other purpose is _____ information. A. Substance B. Chemical C. Sequence of activities D. Emergency contact - D. Emergency contact11-6 Having adequate technology strengths can NOT help an organization with _____. A. Estimating B. Purchasing C. Scheduling D. Vacationing - D. Vacationing 4-2 _____ is an exclusion to an advantage of a sole proprietor. A. Limited personal responsibility B. Low startup costs C. Ownership of profits D. Decision making freedom - A. Limited personal responsibility 2-2 A _____ bond guarantees that the contractor has paid the subcontractor. A. Bid B. Performance C. Payment D. Maintenance - C. Payment 3-7_____ determine the type of materials or methods used. A. Specifications B. Building codes C. References