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CA CONTRACTORS LAW EXAM LATEST 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
An employee whose regular rate is $20/hour works 60 hours one
week and 30 hours the next. Based on a two-week payroll
system, what are the gross wages due, allowing for time-and-a-
half overtime pay after 40 hours in a week?
A) $1,000
B) $1,800
C) $2,000
D) $2,300 - ANSWER-C) $2,000
What is the best way to determine if your company is profitable?
A) Ask the crew supervisors.
B) Compare the size of inventory with last year's.
C) Examine the income and expense statement.
D) Examine the balance sheet - ANSWER-C) Examine the
income and expense statement.
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Which of the following is considered a fixed expense?
A) office rent
B) wages
C) office supplies
D) materials - ANSWER-A) office rent
Which financial ratio measures liquidity?
A) current ratio
B) acid-test ratio (quick ratio)
C) both of the above
D) neither of the above - ANSWER-C) both of the above
Which of the following is a correct statement about budgets?
A) Budgets do not require accurate books.
B) Budgets do not require detailed cost information.
C) The goal of a budget is to forecast expenses as accurately as
possible.
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D) A budget should allow leeway for month-to-month variations. -
ANSWER-D) A budget should allow leeway for month-to-month
variations.
If you are required to report employment taxes or give tax
statements, the _____ must obtain a federal Employer
Identification Number.
A) employee and employer
B) employee
C) employer
D) bookkeeper - ANSWER-C) employer
Suppose you include depreciation on your income statement your
first year in business, but you do not include it in the second year.
How will this affect your net income being reported?
A) It is illegal to omit depreciation.
B) Your net income will be the same for both years.
C) Your net income will be less than it should be in the second
year.
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D) Your net income will be greater than it should be in the second
year - ANSWER-D) Your net income will be greater than it should
be in the second year
What federal forms are given to a newly hired employee?
A) W-4 and I-9
B) W-4 and DE-1
C) I-9 and W-3
D) 1099-R and FTD-8109 - ANSWER-A. W-4 and I-9
How do you know if you are bidding correctly?
A) You are getting all the jobs you bid on.
B) The job cost is almost the same as the estimated cost.
C) The job cost is substantially below the estimated cost.
D) The job cost is substantially above the estimated cost -
ANSWER-B) The job cost is almost the same as the estimated
cost.
CA CONTRACTORS LAW EXAM LATEST 2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
An employee whose regular rate is $20/hour works 60 hours one
week and 30 hours the next. Based on a two-week payroll
system, what are the gross wages due, allowing for time-and-a-
half overtime pay after 40 hours in a week?
A) $1,000
B) $1,800
C) $2,000
D) $2,300 - ANSWER-C) $2,000
What is the best way to determine if your company is profitable?
A) Ask the crew supervisors.
B) Compare the size of inventory with last year's.
C) Examine the income and expense statement.
D) Examine the balance sheet - ANSWER-C) Examine the
income and expense statement.
,2|Page
Which of the following is considered a fixed expense?
A) office rent
B) wages
C) office supplies
D) materials - ANSWER-A) office rent
Which financial ratio measures liquidity?
A) current ratio
B) acid-test ratio (quick ratio)
C) both of the above
D) neither of the above - ANSWER-C) both of the above
Which of the following is a correct statement about budgets?
A) Budgets do not require accurate books.
B) Budgets do not require detailed cost information.
C) The goal of a budget is to forecast expenses as accurately as
possible.
,3|Page
D) A budget should allow leeway for month-to-month variations. -
ANSWER-D) A budget should allow leeway for month-to-month
variations.
If you are required to report employment taxes or give tax
statements, the _____ must obtain a federal Employer
Identification Number.
A) employee and employer
B) employee
C) employer
D) bookkeeper - ANSWER-C) employer
Suppose you include depreciation on your income statement your
first year in business, but you do not include it in the second year.
How will this affect your net income being reported?
A) It is illegal to omit depreciation.
B) Your net income will be the same for both years.
C) Your net income will be less than it should be in the second
year.
, 4|Page
D) Your net income will be greater than it should be in the second
year - ANSWER-D) Your net income will be greater than it should
be in the second year
What federal forms are given to a newly hired employee?
A) W-4 and I-9
B) W-4 and DE-1
C) I-9 and W-3
D) 1099-R and FTD-8109 - ANSWER-A. W-4 and I-9
How do you know if you are bidding correctly?
A) You are getting all the jobs you bid on.
B) The job cost is almost the same as the estimated cost.
C) The job cost is substantially below the estimated cost.
D) The job cost is substantially above the estimated cost -
ANSWER-B) The job cost is almost the same as the estimated
cost.
