COMMERCIAL CONTRACTOR PRACTICE EXAM QUESTIONS WITH RATIONALES ANSWERS

An employee earns $12.50 per hour. What is the gross pay of this non-exempt employee who works 45 hours during a holiday week, and receives 8 hours additional pay for the holiday? A.$562.50 B.$662.50 C.$693.75 D.$743.75 - ANSWER-C.$693.75 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