NASCLA Business, Law, and Project Management 13th Edition - Test 1 || with 100% Error-free Answers.
FOB freight prepaid requires _____ to pay for shipping charges.
A. Contractor
B. Buyer
C. Seller
D. Subcontractor correct answers C. Seller
13-11
_____ is NOT a member of the supervisory team.
A. A Foreman
B. A Material expediter
C. The Owner's representative
D. A Project manager correct answers D. A Project Manager
8-7
With _____ scheduling, you can link project tasks to specific dates such as delivery dates, payment schedule and employee vacations and holidays.
A. Calendar
B. Bar Chart
C. Gantt
D. Critical Path Method correct answers A. Calendar
8-3
When working in dwelling that was built prior to 1978, the employer is to provide each occupant
with a pamphlet titled _____.
A. Protect your family from lead in your home
B. Protect you loved ones from lead in your home
C. Protect your family and your friends from lead in your home
D. Pamphlets are not required correct answers A. Protect your family from lead in your home
11-13
Employers that violate child labor laws are subject to civil penalty of up to _____ per worker for each violation.
A. $2,500 B. $5,000
C. $10,000
D. $11,000 correct answers D. $11,000
10-3
A lump sum contract on a project has a total contract price of $260,000. Retainage has been held back at 10%. The contractor has received progress payments for 75% of the project. The contractor submits a request for final payment for _____.
A. More than $80,000
B. Less than $50,000
C. Between $50,001 and $60,000
D. Between $60,001 and $70,000 correct answers A. More than $80,000
7-3 and 13-9
$260,000x0.10 (10% retainage) = $26,000 held back in retainage
$260,000 - $26,000 = $234,000 due in progress payments
$234,000 x .75 (75% received) = $175,000 received in progress payments
$260,000 - $175,000 = $84,500 final payment
_____ is NOT a key characteristic of a sole proprietorship.
A. The termination at death of the owner
B. Business expenses and personal income are not separated
C. The net income is taxed as ordinary income
D. The owner/owners must bear all responsibility correct answers B. Business expenses and personal income are not separated
2-1
The quick ratio (or acid test ratio) for a company that has current assets of $28,000, and inventory or $4,000, and current liabilities of $6,000 is _____.
A. 4/1
B. 1/4
C. 7/1
D. 1/7 correct answers A. 4/1
13-6
An Emergency Action Plan is required to be in writing if any employer has _____ employees or more.
A. 2
B. 8
FOB freight prepaid requires _____ to pay for shipping charges.
A. Contractor
B. Buyer
C. Seller
D. Subcontractor correct answers C. Seller
13-11
_____ is NOT a member of the supervisory team.
A. A Foreman
B. A Material expediter
C. The Owner's representative
D. A Project manager correct answers D. A Project Manager
8-7
With _____ scheduling, you can link project tasks to specific dates such as delivery dates, payment schedule and employee vacations and holidays.
A. Calendar
B. Bar Chart
C. Gantt
D. Critical Path Method correct answers A. Calendar
8-3
When working in dwelling that was built prior to 1978, the employer is to provide each occupant
with a pamphlet titled _____.
A. Protect your family from lead in your home
B. Protect you loved ones from lead in your home
C. Protect your family and your friends from lead in your home
D. Pamphlets are not required correct answers A. Protect your family from lead in your home
11-13
Employers that violate child labor laws are subject to civil penalty of up to _____ per worker for each violation.
A. $2,500 B. $5,000
C. $10,000
D. $11,000 correct answers D. $11,000
10-3
A lump sum contract on a project has a total contract price of $260,000. Retainage has been held back at 10%. The contractor has received progress payments for 75% of the project. The contractor submits a request for final payment for _____.
A. More than $80,000
B. Less than $50,000
C. Between $50,001 and $60,000
D. Between $60,001 and $70,000 correct answers A. More than $80,000
7-3 and 13-9
$260,000x0.10 (10% retainage) = $26,000 held back in retainage
$260,000 - $26,000 = $234,000 due in progress payments
$234,000 x .75 (75% received) = $175,000 received in progress payments
$260,000 - $175,000 = $84,500 final payment
_____ is NOT a key characteristic of a sole proprietorship.
A. The termination at death of the owner
B. Business expenses and personal income are not separated
C. The net income is taxed as ordinary income
D. The owner/owners must bear all responsibility correct answers B. Business expenses and personal income are not separated
2-1
The quick ratio (or acid test ratio) for a company that has current assets of $28,000, and inventory or $4,000, and current liabilities of $6,000 is _____.
A. 4/1
B. 1/4
C. 7/1
D. 1/7 correct answers A. 4/1
13-6
An Emergency Action Plan is required to be in writing if any employer has _____ employees or more.
A. 2
B. 8
