BUILDERS TEST QUESTIONS & ANSWERS
The contractor needs to find working capital ratio. Their assets are 30k and liability 15k.
What is working capital ratio - answer -2
A balance sheet summarizes all except - answer -investments
What tax is deducted solely from employee wages - answer -income tax
At min, deposits of taxes withheld must be made on a _______ basis - answer -monthly
If a contractors futa liability exceeds ___ then futa taxes are deposited quarterly -
answer -500
The ______ shows a business's financial condition during a period of time while the ___
shows activity over time - answer -balance sheet, income statement
The employee pays a portion of each except ___ which is paid by employer - answer -
fed unemployment tax
When it comes to comparing short-term an long-term income with the time frame when
costs and expenses were incurred, it would be best to - answer -match the inflow and
outflow of cash and place both in the same tax period
What is the formula for finding the gross profit to sales ratio? - answer -total sales-cost
of goods sold /total sales
Which of these should you not use to form slab edges for monolithic slab - answer -
precast concrete
The most basic type of precast concrete panel is the - answer -solid concrete panel
Which contract documents must be signed by both owner and contractor - answer -
standard for of agreement
Which part usually obtains a construction loan? - answer -buyer
What is the purpose of the addend in a contract - answer -to make changes to project
before bids are accepted
A change order should included all except - answer -the engineers signature
A warranty period lasts for how long - answer -one year from the time project ended
, If a contract is made with someone while under the influence of alcohol, that contract is
___ - answer -unenforceable
A ___ gives the owner the right to require the contractor to correct deficiencies in the
work - answer -warranty
When is a party in breach of contract - answer -when there is a failure to fully and
properly perform a duty and no legal excuse sufficient
What action i essential before signing a contract - answer -read and understand the
entire contract
When changes or modifications occur during a project, a ___ must be issued and
signed by the owner and contractor - answer -change order
Which type of contract provides for starting the project before all the plans are complete
- answer -phased/fast track
A contract is what kind of agreement between two or more ppl - answer -binding
What are changes to the project/contract doc made before the date bids are accepted
called? - answer -addenda
A contractor failed to clean the job site, and some of the equipment is damaged. The
contract does not specify that the contractor most ensure the site is cleaning each day.
Hat kid of breach is this - answer -immaterial
The function of the balance sheet is to .... - answer -show the financial condition of the
business on a specific date
A straight run of stairs is called a - answer -flight
An example of a dead roof load would be - answer -weight of the chimney
The type of ___ to be used for molding or trim determines the type of ___ utilized -
answer -finish, wood
Fastening schedules show the ___ code requirement for the quality and safety of
framing and structural design - answer -minimum
What is the header span for an interior wall constricted of three 2x8 supporting two
floors in a building that is 28 feet wide - answer -4-5
According to the michigan barrier-free ramp guidelines, there must be a min of ___
inches of clear space across the wheelchair ramp - answer -36
The contractor needs to find working capital ratio. Their assets are 30k and liability 15k.
What is working capital ratio - answer -2
A balance sheet summarizes all except - answer -investments
What tax is deducted solely from employee wages - answer -income tax
At min, deposits of taxes withheld must be made on a _______ basis - answer -monthly
If a contractors futa liability exceeds ___ then futa taxes are deposited quarterly -
answer -500
The ______ shows a business's financial condition during a period of time while the ___
shows activity over time - answer -balance sheet, income statement
The employee pays a portion of each except ___ which is paid by employer - answer -
fed unemployment tax
When it comes to comparing short-term an long-term income with the time frame when
costs and expenses were incurred, it would be best to - answer -match the inflow and
outflow of cash and place both in the same tax period
What is the formula for finding the gross profit to sales ratio? - answer -total sales-cost
of goods sold /total sales
Which of these should you not use to form slab edges for monolithic slab - answer -
precast concrete
The most basic type of precast concrete panel is the - answer -solid concrete panel
Which contract documents must be signed by both owner and contractor - answer -
standard for of agreement
Which part usually obtains a construction loan? - answer -buyer
What is the purpose of the addend in a contract - answer -to make changes to project
before bids are accepted
A change order should included all except - answer -the engineers signature
A warranty period lasts for how long - answer -one year from the time project ended
, If a contract is made with someone while under the influence of alcohol, that contract is
___ - answer -unenforceable
A ___ gives the owner the right to require the contractor to correct deficiencies in the
work - answer -warranty
When is a party in breach of contract - answer -when there is a failure to fully and
properly perform a duty and no legal excuse sufficient
What action i essential before signing a contract - answer -read and understand the
entire contract
When changes or modifications occur during a project, a ___ must be issued and
signed by the owner and contractor - answer -change order
Which type of contract provides for starting the project before all the plans are complete
- answer -phased/fast track
A contract is what kind of agreement between two or more ppl - answer -binding
What are changes to the project/contract doc made before the date bids are accepted
called? - answer -addenda
A contractor failed to clean the job site, and some of the equipment is damaged. The
contract does not specify that the contractor most ensure the site is cleaning each day.
Hat kid of breach is this - answer -immaterial
The function of the balance sheet is to .... - answer -show the financial condition of the
business on a specific date
A straight run of stairs is called a - answer -flight
An example of a dead roof load would be - answer -weight of the chimney
The type of ___ to be used for molding or trim determines the type of ___ utilized -
answer -finish, wood
Fastening schedules show the ___ code requirement for the quality and safety of
framing and structural design - answer -minimum
What is the header span for an interior wall constricted of three 2x8 supporting two
floors in a building that is 28 feet wide - answer -4-5
According to the michigan barrier-free ramp guidelines, there must be a min of ___
inches of clear space across the wheelchair ramp - answer -36
