Builders Guide to
Accounting 2026 | Study
Guide, Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, In a petty cash system, you______for all expenses by Vouch-voucher
replacing cash removed with a______. 10
Most builders need a cash fund for the little expenses that Coffee and donuts, C.O.D deliveries, and postage due
come up from day to day such as: 10
Controlling your overhead expenses is important, therefore Past overhead expenses
your record of________is the best indication of what you 11
can expect in the future
Entries into the bookkeeping system for bills received but accrual
not yet paid are called_______entries. 11,149
Financial and operating ratios are useful to builders and month-to-month
contractors who understand their meaning. These ratios 12
tell the________trend of your business.
_______help you find the good and the bad situations and ratios
show the relative health of your business. 12
The account entry to record accounts receivable is: debit the account
15
According to the Builder's Guide to Accounting, which Net Worth
amount is normally found on the credit side of the balance 15
sheet.
In order for the general ledger to be correct it must: be balanced
17,278,281
Which of the following formulas is correct regarding a liabilities + net worth = assets
balance sheet? 17
The_______shows the source of funds and summary of Cash Flow Statement
cash management. 18
The advantage of using percentage of completion versus you can recognize income before a payment is received
the completed contract method of accounting is: 24
Accounting 2026 | Study
Guide, Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, In a petty cash system, you______for all expenses by Vouch-voucher
replacing cash removed with a______. 10
Most builders need a cash fund for the little expenses that Coffee and donuts, C.O.D deliveries, and postage due
come up from day to day such as: 10
Controlling your overhead expenses is important, therefore Past overhead expenses
your record of________is the best indication of what you 11
can expect in the future
Entries into the bookkeeping system for bills received but accrual
not yet paid are called_______entries. 11,149
Financial and operating ratios are useful to builders and month-to-month
contractors who understand their meaning. These ratios 12
tell the________trend of your business.
_______help you find the good and the bad situations and ratios
show the relative health of your business. 12
The account entry to record accounts receivable is: debit the account
15
According to the Builder's Guide to Accounting, which Net Worth
amount is normally found on the credit side of the balance 15
sheet.
In order for the general ledger to be correct it must: be balanced
17,278,281
Which of the following formulas is correct regarding a liabilities + net worth = assets
balance sheet? 17
The_______shows the source of funds and summary of Cash Flow Statement
cash management. 18
The advantage of using percentage of completion versus you can recognize income before a payment is received
the completed contract method of accounting is: 24
