nevada contractors test
Study online at https://quizlet.com/_gphpi8
1. a person who is issued a written citation pursuant B.15
to NRA 624.341 may contest the citation within ______
business days after the date on which the citation is
served on the person.
A. 30
B. 15
C. 10
D. 45
2. stop depositing FUTA tax on an employees wages C. $7,000
when ______ for the calendar year is reached
A. no limit
B. $1,000
C. $7,000
D. $1,500
3. According to the FLSA, a workweek is a period of _____ D.168
hours during 7 consecutive 24 hour periods.
A. 40
B. 24
C. 8
D. 168
4. a quick ration is the process of deducting inventory
from current assets then dividing by current liabilities.
EX: you have 73,000 in current assets, 12,000 of that
is inventory and current liabilities are 35,000. Take
73,000 minus 12,000 = 61,000 divided by 35,000 give
you 1.74. Any ration compared to 1 is good, the higher
the amount over the 1 the better. So the quick ratio is
1/74 to 1.
, nevada contractors test
Study online at https://quizlet.com/_gphpi8
5. In limited partnership, one or more _____ manage the B. General partners
business.
A. Limited partners
B. General partners
C. all the above
D. none of the above
6. Records for Federal employment taxes must be kept C. 4 years
for minimum of ____ and be available for IRS review.
A. 5 years
B. 3 years
C. 4 years
D. 2 years
7. Employers must verify the eligibility of each employ D. Voters registration
by completing USCIS for 1-9 as well as examine docu-
ments that establish the employees identity and eligi-
bility to work in the United States. Certain documents
are acceptable on their own for establishing both iden-
tity and eligibility. which of the following does not meet
these requirements?
A. Permanent resident card
B. United States passport
C. All of the above
D. Votes registration
8. As a contractor you hold a general liability policy with C. $0
$1,000 deductible with no riders. An accident occurs
on your job site. A passerby is injured with total injuries
amounting to $1,000. There is $3,000 in equipment
damage and $2,000 in injuries to your employee. what
is the financial obligation of the general liability com-
, nevada contractors test
Study online at https://quizlet.com/_gphpi8
pany?
Solution: the contractor would pay the deductible,
which is the same amount of the covered injury. there
is no equipment rider on this policy and workers comp
would cover the employee, so the amount the liability
insurance company would pay is none.
A. $1,000
B.$6,000
C.$0
D. $5,000
9. All of the following characteristics define an employee C. no reimbursement for
versus independent contractor, except: out-of-pocket expenses.
A. paid at regular intervals.
B. Receives and/or is receiving training.
C. No reimbursement for out-of-pocket expenses.
D. Must follow set and/or mandatory instructions -
where, when and how to perform work
10. IRS publication 15 is also known as._____ A. Circular E, employers tax
A. Circular E, employers tax guide. (You got this one guide.
correct)
B. I-9
C. w-4
D. w-2
11. All of the following characteristics, define an indepen- A. compensated for ser-
dent contractor versus an employee except: vices at fixed rate, regard-
A. Compensated for services at fixed rate, regardless less of probability.
of profitability.
B. Furnishes his/her own tools and materials
C. Work performed is a "unique" service, not an " inte-
Study online at https://quizlet.com/_gphpi8
1. a person who is issued a written citation pursuant B.15
to NRA 624.341 may contest the citation within ______
business days after the date on which the citation is
served on the person.
A. 30
B. 15
C. 10
D. 45
2. stop depositing FUTA tax on an employees wages C. $7,000
when ______ for the calendar year is reached
A. no limit
B. $1,000
C. $7,000
D. $1,500
3. According to the FLSA, a workweek is a period of _____ D.168
hours during 7 consecutive 24 hour periods.
A. 40
B. 24
C. 8
D. 168
4. a quick ration is the process of deducting inventory
from current assets then dividing by current liabilities.
EX: you have 73,000 in current assets, 12,000 of that
is inventory and current liabilities are 35,000. Take
73,000 minus 12,000 = 61,000 divided by 35,000 give
you 1.74. Any ration compared to 1 is good, the higher
the amount over the 1 the better. So the quick ratio is
1/74 to 1.
, nevada contractors test
Study online at https://quizlet.com/_gphpi8
5. In limited partnership, one or more _____ manage the B. General partners
business.
A. Limited partners
B. General partners
C. all the above
D. none of the above
6. Records for Federal employment taxes must be kept C. 4 years
for minimum of ____ and be available for IRS review.
A. 5 years
B. 3 years
C. 4 years
D. 2 years
7. Employers must verify the eligibility of each employ D. Voters registration
by completing USCIS for 1-9 as well as examine docu-
ments that establish the employees identity and eligi-
bility to work in the United States. Certain documents
are acceptable on their own for establishing both iden-
tity and eligibility. which of the following does not meet
these requirements?
A. Permanent resident card
B. United States passport
C. All of the above
D. Votes registration
8. As a contractor you hold a general liability policy with C. $0
$1,000 deductible with no riders. An accident occurs
on your job site. A passerby is injured with total injuries
amounting to $1,000. There is $3,000 in equipment
damage and $2,000 in injuries to your employee. what
is the financial obligation of the general liability com-
, nevada contractors test
Study online at https://quizlet.com/_gphpi8
pany?
Solution: the contractor would pay the deductible,
which is the same amount of the covered injury. there
is no equipment rider on this policy and workers comp
would cover the employee, so the amount the liability
insurance company would pay is none.
A. $1,000
B.$6,000
C.$0
D. $5,000
9. All of the following characteristics define an employee C. no reimbursement for
versus independent contractor, except: out-of-pocket expenses.
A. paid at regular intervals.
B. Receives and/or is receiving training.
C. No reimbursement for out-of-pocket expenses.
D. Must follow set and/or mandatory instructions -
where, when and how to perform work
10. IRS publication 15 is also known as._____ A. Circular E, employers tax
A. Circular E, employers tax guide. (You got this one guide.
correct)
B. I-9
C. w-4
D. w-2
11. All of the following characteristics, define an indepen- A. compensated for ser-
dent contractor versus an employee except: vices at fixed rate, regard-
A. Compensated for services at fixed rate, regardless less of probability.
of profitability.
B. Furnishes his/her own tools and materials
C. Work performed is a "unique" service, not an " inte-
