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Construction Accounting Exam Questions With Correct Answers

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2024/2025 Written for academic year
Institution Construction Accounting
Course Construction Accounting
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Construction Accounting Exam Questions With Correct Answers

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Construction Accounting Exam Questions
With Correct Answers

What /is /Financial /Management? /- /correct /answer(s) /✔✔ /Controlling /a /company's /resources
/that /impact /its /financial /future /(cash, /assets)




For /example, /if /a /company /is /awarded /a /bid:

Is /there /enough /cash /or /is /financing /needed?

Should /equipment /be /purchased /or /leased?



Difference /between /finance /and /accounting /- /correct /answer(s) /✔✔ /Finance /= /Future,
/Planning /and /Analysis, /Customizable




Accounting /= /Past, /Operational, /Standardized



Why /is /financial /management /important /in /construction? /- /correct /answer(s) /✔✔ /How /many
/construction /companies /fail /each /year /in /the /United /States? /



Every /year /~10,000 /US /construction /companies /fail



Not /just /a /"start-up" /issue /as /failures /are /divided /equally /among /companies /of /all /ages



Higher-than-average /failure /rate /compared /to /all /businesses



What /causes /so /many /construction /companies /to /fail? /- /correct /answer(s) /✔✔ /1) /Ineffective
/financial /management /systems

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