VA contractors general class A or B questions and answers rated 100% correct.

A bid does NOT specify how long it remains open or in effect is considered to be open for... - a reasonable amount of time A company's net worth is equal to... - owner's equity A contract refers to an insurance agreement that the contractor is REQUIRED to have. This is considered... - Part of the contract A contractor is about to sign an agreement with a representative of a corporation. The contractor should... - verify that the representative has the authority to bind the corporation A contractor plans to use materials or methods other than those standard in the industry. The contractor should... - specifically state this in the agreement A contractor should do all of the following when estimating a project EXCEPT... - assume ideal conditions A contractor uses funds paid by a project owner to purchase materials to start a different project. The laborers for the original project do NOT get paid by the contractor. Under the lien law, this is considered... - Intent to defraud by the contractor A reason for using a lower than usual profit markup for a specific project could be to... - cover company overhead costs All of the following are advantages of good scheduling EXCEPT... - reduced training costs All of the following are considered general conditions that could affect costs directly associated with a specific project EXCEPT... - profit marginsAn ADVANTAGE of a Critical Path Method (CPM) schedule is it... - Identifies activities that MUST be completed before other activities can occur An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - cost plus contract An employee can request to receive advance earned income credit on Form... - W-5 An employer who withholds more than $1,000 per month from employees for state taxes MUST pay those taxes at LEAST... - two times per week An important factor in ensuring that a schedule is followed is to... - make sure the superintendent agrees with it