VA CONTRACTORS: VA ADVANCED
(CLASS A) Exam 2025
UPDATE/PRACTICE QUESTIONS
AND CORRECT VERIFIED
ANSWERS(complete
solutions)ASSURED
SUCCESS/GRADED A+!!!
Save
Terms in this set (24)
,A lump sum More than $50,000
contract on a
project has a
total contract
price of
$160,000.
Retainage has
been held back
at 10%. The
contractor has
received
progress
payments for
75% of the
project. The
contractor
submits a
request for final
payment for the
new completed
project. The final
payment amount
should be for...
, What is the total Between $12,000 and $16,000
value of current
assets for an
accrual basis
company that
has the
following?
Checking
account cash
balance is
$4,800; materials
inventory for
work-in-
progress is
$4,200; a pick-
up truck that
cost $12,460-
paid for with
$2,460 in cash
and a note for
$10,000- and is
used 100% in the
business;
accounts
receivable is
$5,700;
(CLASS A) Exam 2025
UPDATE/PRACTICE QUESTIONS
AND CORRECT VERIFIED
ANSWERS(complete
solutions)ASSURED
SUCCESS/GRADED A+!!!
Save
Terms in this set (24)
,A lump sum More than $50,000
contract on a
project has a
total contract
price of
$160,000.
Retainage has
been held back
at 10%. The
contractor has
received
progress
payments for
75% of the
project. The
contractor
submits a
request for final
payment for the
new completed
project. The final
payment amount
should be for...
, What is the total Between $12,000 and $16,000
value of current
assets for an
accrual basis
company that
has the
following?
Checking
account cash
balance is
$4,800; materials
inventory for
work-in-
progress is
$4,200; a pick-
up truck that
cost $12,460-
paid for with
$2,460 in cash
and a note for
$10,000- and is
used 100% in the
business;
accounts
receivable is
$5,700;
