Test 4 Flashcards
What does not require a construction license?
Constructing an oil derrick
The minimum fine for asbestos removal is:
$1000
What kind of information tells you if you are able to pay off your bills?
Net Working Capital
A payment bond would be posted by the:
Prime contractor or property owner
Fixed costs are under the category of:
Overhead
What is the maximum penalty for working as a contractor with a license that has been revoked, suspended or has lapsed?
6 months in jail and a $15,000 fine
The best two methods of keeping track of job expenses are:
The payroll journal and expense journal
Which of the following should be specified in a contract?
Owner must pay for materials after they are delivered.
What is the likely penalty for contracting for jobs with an inactive license?
Fine and/or license suspension for up to one year.
A payment bond guarantees that the bonding company will pay valid claims for unpaid bills owed by the BLANK posting the bond.
Prime contractor or property owner
If an employer is fired as a result of garnishment, he must notify BLANK within BLANK days, if he intends to file a claim disputing lost wages following the firing.
Employer
30 days
A client requests a bid package from a contractor. The package should include:
A list of all subcontractors
When must an employer complete the I-9 Form?
Within 3 days
