CA Contractors License Test Questions Business and Law and Answers 100% Correct
CA Contractors License Test Questions Business and Law and Answers 100% CorrectCA Contractors License Test Questions Business and Law and Answers 100% CorrectCA Contractors License Test Questions Business and Law and Answers 100% Correct How much time does a contractor have to renew his license after the expiration date without retaking the exam? - ANSWER-5 year When you collect sales tax from your customer for goods, which agency do you report and pay sales tax collected? - ANSWER-State board of equalization Sales tax is a state tax. State income taxes are payable to the franchise tax board. IRS only collects federal taxes How long is the contractor liable for patent or visible defects? - ANSWER-4 years How long is the contractorr liable for latent or structural defects - ANSWER-Latent is an invisible or structural defect liable for up to 10 years Accounts receivable contains - ANSWER-Retention Retention usually 10%; it is withheld by the owner from the contract to ensure that the job is done properly and subcontractors are paid. What is considered a fixed cost to a contractor? - ANSWER-Office rent What is considered a variable cost to contractors? - ANSWER-Construction material If a home solicitation presentation is made in spanish, the contract language must be - ANSWER-spanish
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