VA CONTRACTORS: VA ADVANCED
(CLASS A) EXAM WITH 100%
CORRECT AND VERIFIED ANSWERS
GUARANTEED PASS
Ailumpisumicontractioniaiprojectihasiaitotalicontractipriceiofi$160,00
0.iRetainageihasibeeniheldibackiati10%.iTheicontractorihasireceivedi
progressipaymentsifori75%iofitheiproject.iTheicontractorisubmitsiair
equestiforifinalipaymentiforitheinewicompletediproject.iTheifinalipa
ymentiamountishouldibeifor...i-iANS>>-Moreithani$50,000
Whatiisitheitotalivalueioficurrentiassetsiforianiaccrualibasisicompany
ithatihasitheifollowing?iCheckingiaccounticashibalanceiisi$4,800;ima
terialsiinventoryiforiwork-in-progressiisi$4,200;iaipick-
upitruckithaticosti$12,460-
ipaidiforiwithi$2,460iinicashiandiainoteifori$10,000-
iandiisiusedi100%iinitheibusiness;iaccountsireceivableiisi$5,700;isupp
liers'iaccountsipayableiisi$6,300;iotheriaccountsipayableiisi$2,200;ian
diquarterlyiincomeitaxipaymentidueiisi$1,180...i-iANS>>-
Betweeni$12,000iandi$16,000
Whatiisitheitotaliprojectioverheadiforiaiprojectithatilastsi3imonthsian
dihasitheifollowingicosts?iLaboriisi$4,000;imaterialsiarei$9,500;iequi
pmentirentalsiarei$1,200;isuperintendent'siannualisalaryiisi$36,000;i
officeirentiisi$800iperimonth;iandiofficeiutilitiesiarei$375iperimonth.i
-iANS>>-Lessithani$12,000
Fori1imonthiaicompanyibillsiouti$38,000iinicompletediwork,iandirec
eivesi$22,000iinipaymentsiplusi$8,000ifromitheipreviousimonth'sibil
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiVendarsol
, lings.iTheyipayitheiritotalibilliofi$26,000itoisupplyihousesiforithisimo
nth'sipurchases,iandianotheri$5,000itoisupplyihousesiforilastimonth'
sipurchases.iUsingiaicashiaccountingimethodiandiNOTiconsideringi
anyiotherirevenueioriexpenses,iwhatiisitheicompany'sinetiincomeifo
ritheimonth?i-iANS>>-Lossiofi$1,000
Theiownerirequestsiforichangeiwhichiwillicostitheicontractori$15,00
0iinilaboriandimaterialsiandi$2,250iinioverheadicosts.iWithitheichan
ge,itheicontractoriwouldibeirelievediofi$18,000iinilaboriandimaterial
sicosts,iandi$2,400iinioverheadicostsifromitheioriginalicontract.iTheio
riginalibidiincludediprofitiofi20%iofiallicosts.iTheicontractoriwantsit
oimakeiaiprofitiofi20%iofiallicostsionitheichanges.iTheiadjustedicontr
actipriceiforitheichangeiorderishouldibe...i-iANS>>-
Aidecreaseiofi$3,780
Whichiofitheifollowingiwoulditypicallyibeicoveredibyiaicontractor'si
comprehensiveigeneraliliabilityiinsuranceipolicy?i-iANS>>-
Damageitoiadjoiningipropertyifromiaicraneiaccident
Whatiisitheitotaligrossicompensationiandiemploymentistatusiforiaic
arpenter,igivenitheifollowingiinformation?iAicontractorihiresiaicarp
enteritoidoitheifinishiworkiforiai10-
homeiproject.iTheicarpenteriisitoibeipaidi$16iperihour.iTheicontracto
riprovidesiallimaterialsiandiequipment,isuchiasiaitableisaw.iTheicarp
enteriprovidesialliofihisiownihanditools.iTheicontractorianditheicarp
enteriagreeithatialliofitheihomesiareitoibeicompletediwithini60i8-
houriworkingidays,iwithoutiovertime.iTheicontractoriprovidesitheic
arpenteriwithiaischeduleiofitheiorderiiniwhichihomesiareitoibeiwork
edion.iTheicontractoriprovidesiaihelperitoiassistitheicarpenter.iTheic
ontractorisetsitheiworkischeduleieachiday.iTheicarpenterispendsi600
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiVendarsol
(CLASS A) EXAM WITH 100%
CORRECT AND VERIFIED ANSWERS
GUARANTEED PASS
Ailumpisumicontractioniaiprojectihasiaitotalicontractipriceiofi$160,00
0.iRetainageihasibeeniheldibackiati10%.iTheicontractorihasireceivedi
progressipaymentsifori75%iofitheiproject.iTheicontractorisubmitsiair
equestiforifinalipaymentiforitheinewicompletediproject.iTheifinalipa
ymentiamountishouldibeifor...i-iANS>>-Moreithani$50,000
Whatiisitheitotalivalueioficurrentiassetsiforianiaccrualibasisicompany
ithatihasitheifollowing?iCheckingiaccounticashibalanceiisi$4,800;ima
terialsiinventoryiforiwork-in-progressiisi$4,200;iaipick-
upitruckithaticosti$12,460-
ipaidiforiwithi$2,460iinicashiandiainoteifori$10,000-
iandiisiusedi100%iinitheibusiness;iaccountsireceivableiisi$5,700;isupp
liers'iaccountsipayableiisi$6,300;iotheriaccountsipayableiisi$2,200;ian
diquarterlyiincomeitaxipaymentidueiisi$1,180...i-iANS>>-
Betweeni$12,000iandi$16,000
Whatiisitheitotaliprojectioverheadiforiaiprojectithatilastsi3imonthsian
dihasitheifollowingicosts?iLaboriisi$4,000;imaterialsiarei$9,500;iequi
pmentirentalsiarei$1,200;isuperintendent'siannualisalaryiisi$36,000;i
officeirentiisi$800iperimonth;iandiofficeiutilitiesiarei$375iperimonth.i
-iANS>>-Lessithani$12,000
Fori1imonthiaicompanyibillsiouti$38,000iinicompletediwork,iandirec
eivesi$22,000iinipaymentsiplusi$8,000ifromitheipreviousimonth'sibil
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiVendarsol
, lings.iTheyipayitheiritotalibilliofi$26,000itoisupplyihousesiforithisimo
nth'sipurchases,iandianotheri$5,000itoisupplyihousesiforilastimonth'
sipurchases.iUsingiaicashiaccountingimethodiandiNOTiconsideringi
anyiotherirevenueioriexpenses,iwhatiisitheicompany'sinetiincomeifo
ritheimonth?i-iANS>>-Lossiofi$1,000
Theiownerirequestsiforichangeiwhichiwillicostitheicontractori$15,00
0iinilaboriandimaterialsiandi$2,250iinioverheadicosts.iWithitheichan
ge,itheicontractoriwouldibeirelievediofi$18,000iinilaboriandimaterial
sicosts,iandi$2,400iinioverheadicostsifromitheioriginalicontract.iTheio
riginalibidiincludediprofitiofi20%iofiallicosts.iTheicontractoriwantsit
oimakeiaiprofitiofi20%iofiallicostsionitheichanges.iTheiadjustedicontr
actipriceiforitheichangeiorderishouldibe...i-iANS>>-
Aidecreaseiofi$3,780
Whichiofitheifollowingiwoulditypicallyibeicoveredibyiaicontractor'si
comprehensiveigeneraliliabilityiinsuranceipolicy?i-iANS>>-
Damageitoiadjoiningipropertyifromiaicraneiaccident
Whatiisitheitotaligrossicompensationiandiemploymentistatusiforiaic
arpenter,igivenitheifollowingiinformation?iAicontractorihiresiaicarp
enteritoidoitheifinishiworkiforiai10-
homeiproject.iTheicarpenteriisitoibeipaidi$16iperihour.iTheicontracto
riprovidesiallimaterialsiandiequipment,isuchiasiaitableisaw.iTheicarp
enteriprovidesialliofihisiownihanditools.iTheicontractorianditheicarp
enteriagreeithatialliofitheihomesiareitoibeicompletediwithini60i8-
houriworkingidays,iwithoutiovertime.iTheicontractoriprovidesitheic
arpenteriwithiaischeduleiofitheiorderiiniwhichihomesiareitoibeiwork
edion.iTheicontractoriprovidesiaihelperitoiassistitheicarpenter.iTheic
ontractorisetsitheiworkischeduleieachiday.iTheicarpenterispendsi600
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiVendarsol
