Contractors Business/Law Exam With 100% Correct Answers 2024.

Contractors Business/Law Exam With 100% Correct Answers 2024. If an employer's Federal Payroll Tax liability is $1000 how may they pay taxes? quarterly How many employees does it take for the Fair Labor Act to be applied? 1 What accounting method records income when the service occurs and expense when they are incurred? Accrual Method What do the General Conditions of a contract do? Outline roles of the owner, architect, and engineer. You are purchasing an insurance policy with a monthly premium of $300. If you implement a safety program you can save 10% on the cost of the policy. The safety program costs $400 to start and $15 a month to maintain it. What would be the net difference in cost over three year period with a safety program? Net saving of $140 Written construction contract change order should include a description of the modification to be made, any change in contract time and The change in the contract dollar amount Which of the following is a written agreement between the owner and contractor to change the contract? change order What term identifies money withheld from progress payments to the contractor and paid after the completion of the project? Retainage When is final payment due? Final inspection, acceptance by owner and submittal of proper documentation must occur After hiring a disabled person, which of the following can't you do, according to the American with Disabilities Act? Require a medical examination of just the person you suspect is disabled. The percentage of completion method of accounting does what recognizes profit as it is ear