Construction Accounting Midterm Exam Questions With Correct Answers.

Construction Accounting Midterm Exam
Questions With Correct Answers

Which /of /the /following /are /ways /a /construction /company /can /manage /cash /flow? /- /correct
answer(s) /✔✔ /match /the /use /of /subcontractors /and /in-house /labor /to /the /available /cash
/




make /sure /that /sufficient /cash /is /available /to /take /on /additional /projects



prepare /income /tax /projections /to /forecast /future /tax /payments



arrange /for /financing /options



prepare /cash /flow /projections /based /on /active /projects /on-hand /and /expected /projects



Which /of /the /following /are /the /purpose /of /a /construction /accounting /system? /- /correct
answer(s) /✔✔ /process /cash /receipts /and /disbursements
/




collect /and /report /financial /data /for /the /company



Use /financial /data /to /prepare /taxes, /financial /statements, /and /other /required /documentation
/for /the /government




Which /of /the /following /are /key /components /of /a /solid /construction /accounting /system? /-
correct /answer(s) /✔✔ /job /cost /coding /system/procedures
/