FLORIDA STATE BUSINESS AND FINANCE MAIN EXAM
SCRIPT 2025 QUESTIONS WITH ANSWERS RATED A+
✔✔Establishing hourly cost for high-value equipment requires what information? -
✔✔Estimated hours of use/idle time Repair and Maintenance cost.
Cost of Equipment
Estimated life of equipment
Operation cost
-Builders Accounting Pg 160
✔✔What is the statute of limitation for an unwritten agreement? - ✔✔4 Years
Contractors Manual Pg 8-23
✔✔Control equipment cost with good scheduling to minimize_____. - ✔✔Idle Time
Builders Accounting Pg 228
✔✔When equipment is sold _____. - ✔✔The books have to be cleared of all entries
relating to that asset.
Builders Accounting Pg 170
✔✔The general ledger will be ______ if there is a missed posting error and will not zero
out. - ✔✔Out of balance
Builders Accounting Pg 17
✔✔Unpaid tax, interest, penalties, or fees may cause _____. - ✔✔Lien to be placed
against the employer's real and personal property.
Contractors Manual Pg 5-294
✔✔Cash sales should be listed by ? - ✔✔Date
Builders Accounting Pg 38
✔✔The acceptance ratio for the quick asset is _____ and the acceptance ratio for the
current ratio is ____. - ✔✔1 to 1, 2 to 1
Builders Accounting Pg 175
✔✔The penalty for theft or reproduction of examination is a _____. - ✔✔Felony of the
third degree
Contractors Manual Pg 2-38
✔✔The balance sheet is a list of what? - ✔✔Property, debts, and ownership value
Builders Accounting Pg 247
✔✔Successful contractors control their cost during_______. - ✔✔Each phase of the
work
, Builders Accounting Pg 231
✔✔What are financial and operational ratios used for ? - ✔✔These ratios show the
month to month trends of your business, and help find the good and bad situations.
Shows the health of your business.
Builder's Accounting Pg 12
✔✔What is a performance bond? - ✔✔A performance bond is a bond that guarantees
the contractor will perform the work according to the contract.
Contractors Manual Pg 4-14
✔✔The Subcontractor shall notify the contractor within how many days of an injury to an
employee of the Subcontractor which occurred at the site? - ✔✔3 Days
AIA-A401 Pg 6
✔✔If a Subcontractor repeatedly fail or neglect to carry out the work, and fail within a
____ day period after receipt of notice, the contractor may terminate Subcontractor. -
✔✔10days
AIA-A401 Pg 11
✔✔Assets equal the total of _____ and ____ shown on the balance sheet. -
✔✔Liabilities, Net Worth
Builder's Accounting Pg 18
✔✔Form 940 is used to ? - ✔✔Report and pay on an annual basis the federal
unemployment compensation tax
Contractors manual Pg 1-23
✔✔What are 3 network analysis techniques that are used for construction? -
✔✔CPA,CPM, and PERT
Contractors Manual Pg 10-57
✔✔What is the allowable work hours for a minor ate the age 17? - ✔✔30 hrs a week
when school is in session.
Contractors Manual Pg 5-32
✔✔What is the maximum reemployment tax rate? - ✔✔5.4% (0.0540)
Contractors Manual Pg 5-296
✔✔How long does an employer has to keep records of an employment eligibility
verification form (I-9)? - ✔✔I-9 must be kept for all current employees throughout their
employment. For terminated employees, I-9 must be retained 3 years after the date
hired or one year after termination whichever is the later date.
Contractors Manual Pg 5-58
SCRIPT 2025 QUESTIONS WITH ANSWERS RATED A+
✔✔Establishing hourly cost for high-value equipment requires what information? -
✔✔Estimated hours of use/idle time Repair and Maintenance cost.
Cost of Equipment
Estimated life of equipment
Operation cost
-Builders Accounting Pg 160
✔✔What is the statute of limitation for an unwritten agreement? - ✔✔4 Years
Contractors Manual Pg 8-23
✔✔Control equipment cost with good scheduling to minimize_____. - ✔✔Idle Time
Builders Accounting Pg 228
✔✔When equipment is sold _____. - ✔✔The books have to be cleared of all entries
relating to that asset.
Builders Accounting Pg 170
✔✔The general ledger will be ______ if there is a missed posting error and will not zero
out. - ✔✔Out of balance
Builders Accounting Pg 17
✔✔Unpaid tax, interest, penalties, or fees may cause _____. - ✔✔Lien to be placed
against the employer's real and personal property.
Contractors Manual Pg 5-294
✔✔Cash sales should be listed by ? - ✔✔Date
Builders Accounting Pg 38
✔✔The acceptance ratio for the quick asset is _____ and the acceptance ratio for the
current ratio is ____. - ✔✔1 to 1, 2 to 1
Builders Accounting Pg 175
✔✔The penalty for theft or reproduction of examination is a _____. - ✔✔Felony of the
third degree
Contractors Manual Pg 2-38
✔✔The balance sheet is a list of what? - ✔✔Property, debts, and ownership value
Builders Accounting Pg 247
✔✔Successful contractors control their cost during_______. - ✔✔Each phase of the
work
, Builders Accounting Pg 231
✔✔What are financial and operational ratios used for ? - ✔✔These ratios show the
month to month trends of your business, and help find the good and bad situations.
Shows the health of your business.
Builder's Accounting Pg 12
✔✔What is a performance bond? - ✔✔A performance bond is a bond that guarantees
the contractor will perform the work according to the contract.
Contractors Manual Pg 4-14
✔✔The Subcontractor shall notify the contractor within how many days of an injury to an
employee of the Subcontractor which occurred at the site? - ✔✔3 Days
AIA-A401 Pg 6
✔✔If a Subcontractor repeatedly fail or neglect to carry out the work, and fail within a
____ day period after receipt of notice, the contractor may terminate Subcontractor. -
✔✔10days
AIA-A401 Pg 11
✔✔Assets equal the total of _____ and ____ shown on the balance sheet. -
✔✔Liabilities, Net Worth
Builder's Accounting Pg 18
✔✔Form 940 is used to ? - ✔✔Report and pay on an annual basis the federal
unemployment compensation tax
Contractors manual Pg 1-23
✔✔What are 3 network analysis techniques that are used for construction? -
✔✔CPA,CPM, and PERT
Contractors Manual Pg 10-57
✔✔What is the allowable work hours for a minor ate the age 17? - ✔✔30 hrs a week
when school is in session.
Contractors Manual Pg 5-32
✔✔What is the maximum reemployment tax rate? - ✔✔5.4% (0.0540)
Contractors Manual Pg 5-296
✔✔How long does an employer has to keep records of an employment eligibility
verification form (I-9)? - ✔✔I-9 must be kept for all current employees throughout their
employment. For terminated employees, I-9 must be retained 3 years after the date
hired or one year after termination whichever is the later date.
Contractors Manual Pg 5-58
