CONTRACTOR EXAM C 33 TRADE FULL
SOLUTION STUDY GUIDE
◉ Which of the following statements about a sole proprietorship is
TRUE?
A. The business, or any part of it, can be sold, altered, or exchanged
at will.
B. The business will survive the death of the owner.
C. It provides the owner with limited liability for debts and actions
of the business
D. The business is not subject to Federal income tax..
Answer: A.The business, or any part of it, can be sold, altered, or
exchanged at will.
◉ What is the name of the process when a facilitator meets with the
major participants in a project, prior to the commencement of the
project, to identify the shared goals of all participants?
A. Partnering
,B. Arbitration
C. Mediation
D. Claims resolution.
Answer: A.Partnering
◉ How much is an employer who withheld employee Medicare and
Social Security taxes or $765 REQUIRED to send to the IRS?
A. $145
B. $620
C. $765
D. $1,530.
Answer: D.$1530
◉ Records of an employee's exposure to hazardous materials MUST
be kept a MINIMUM of how many years?
,A. 3 years
B. 7 years
C. 15 years
D. 30 years.
Answer: D.30 years
◉ What can be determined by summing the project activities into an
overall schedule?
A. The total resource demand for a project at any given time.
B.The total amount that the company will earn from the job.
C.The total insurance needs of the company.
, D.The total man-hours needed for all projects..
Answer: A.The total resource demand for a project at any given time.
◉ What MUST be done with the taxes withheld by an employer
between the time that they are withheld and the time that they are
sent to the IRS?
A. The taxes can be kept in the general company account.
B. The taxes must be kept in a savings account.
C. The taxes must be held in a separate account and not used for
anything else.
D. The taxes can be used to temporarily pay the company's
expenses..
Answer: C.The taxes must be held in a separate account and not used
for anything else.
SOLUTION STUDY GUIDE
◉ Which of the following statements about a sole proprietorship is
TRUE?
A. The business, or any part of it, can be sold, altered, or exchanged
at will.
B. The business will survive the death of the owner.
C. It provides the owner with limited liability for debts and actions
of the business
D. The business is not subject to Federal income tax..
Answer: A.The business, or any part of it, can be sold, altered, or
exchanged at will.
◉ What is the name of the process when a facilitator meets with the
major participants in a project, prior to the commencement of the
project, to identify the shared goals of all participants?
A. Partnering
,B. Arbitration
C. Mediation
D. Claims resolution.
Answer: A.Partnering
◉ How much is an employer who withheld employee Medicare and
Social Security taxes or $765 REQUIRED to send to the IRS?
A. $145
B. $620
C. $765
D. $1,530.
Answer: D.$1530
◉ Records of an employee's exposure to hazardous materials MUST
be kept a MINIMUM of how many years?
,A. 3 years
B. 7 years
C. 15 years
D. 30 years.
Answer: D.30 years
◉ What can be determined by summing the project activities into an
overall schedule?
A. The total resource demand for a project at any given time.
B.The total amount that the company will earn from the job.
C.The total insurance needs of the company.
, D.The total man-hours needed for all projects..
Answer: A.The total resource demand for a project at any given time.
◉ What MUST be done with the taxes withheld by an employer
between the time that they are withheld and the time that they are
sent to the IRS?
A. The taxes can be kept in the general company account.
B. The taxes must be kept in a savings account.
C. The taxes must be held in a separate account and not used for
anything else.
D. The taxes can be used to temporarily pay the company's
expenses..
Answer: C.The taxes must be held in a separate account and not used
for anything else.
