AIC - Management Flashcards
Which of the following is a fundamental
element of a contract?
mutual acceptance
Which of the following contract types is
generally considered to have the most risk
for the contractor?
lump sum
Which of the following contract types is best
used if the scope is well defined but not the
quantities of material?
unit price
In which delivery method is the construction
administrator most like a consultant?
CM agency
Which statement is true about the designbuild
delivery method from the owner’s
perspective?
There is a single source of fault for
building system failures.
Which delivery method has the most risk for
the contractor?
design-build
Which of the following is a major difference
between a CM agency and a CM at risk?
caps the construction costs the owner is
required to pay
Under which legal structure are the least
total taxes paid for the goods and services
provided by the company?
sole proprietorship
In the construction industry, which legal entity
is often a temporary arrangement?
joint venture
Which is an advantage of forming a
corporation?
Shareholders have reduced personal
liability.
Current Ratio
Current Assets /
Current Liabilities
Quick Ratio
(Cash and Equivalents + Accounts Receivable) /
Current Liabilities
Days Receivable
Days receivable indicates the average number
of days a company takes to receive payment.
365/ (Revenue/Trade Receivables)
Days Payable
Days payable indicates the average number
of days a company takes to make payments
365 / (Direct Cost/Accounts Payable)
Working Capital
Working capital measures available funds for
investment in operations to generate future
revenue and profit.
Current Assets – Current Liabilities