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Exam (elaborations)

Contractors Business/Law Latest 2026/2027 Actual Exam Questions With Correct Answers 100% Verified Graded A+

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Contractors Business/Law Latest 2026/2027 Actual Exam Questions With Correct Answers 100% Verified Graded A+

Institution
Louisiana
Course
Louisiana

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Contractors Business/Law Latest
2026/2027 Actual Exam Questions
With Correct Answers 100% Verified
Graded A+
1. Ifmanmemployer'smFederalmPayrollmTaxmliabilitymism$1000mhowmmaymtheympaymtaxes?m-
mCORRECTmANSWERmquarterly




2. HowmmanymemployeesmdoesmitmtakemformthemFairmLabormActmtombemapplied?m-
mCORRECTmANSWERm1




3. Whatmaccountingmmethodmrecordsmincomemwhenmthemservicemoccursmandmexpensemwhen
mtheymaremincurred?m-mCORRECTmANSWERmAccrualmMethod




4. WhatmdomthemGeneralmConditionsmofmamcontractmdo?m-
mCORRECTmANSWERmOutlinemrolesmofmthemowner,marchitect,mandmengineer.




5. Youmarempurchasingmanminsurancempolicymwithmammonthlympremiummofm$300.mIfmyoumimpl
ementmamsafetymprogrammyoumcanmsavem10%monmthemcostmofmthempolicy.mThemsafetymprogr
ammcostsm$400mtomstartmandm$15mammonthmtommaintainmit.mWhatmwouldmbemthemnetmdiffer
enceminmcostmovermthreemyearmperiodmwithmamsafetymprogram?m-
mCORRECTmANSWERmNetmsavingmofm$140




6. Writtenmconstructionmcontractmchangemordermshouldmincludemamdescriptionmofmthemmodifi
cationmtombemmade,manymchangeminmcontractmtimemandm-
mCORRECTmANSWERmThemchangeminmthemcontractmdollarmamount




7. Whichmofmthemfollowingmismamwrittenmagreementmbetweenmthemownermandmcontractormtom
changemthemcontract?m-mCORRECTmANSWERmchangemorder

, 8. Whatmtermmidentifiesmmoneymwithheldmfrommprogressmpaymentsmtomthemcontractormandm
paidmaftermthemcompletionmofmthemproject?m-mCORRECTmANSWERmRetainage



9. Whenmismfinalmpaymentmdue?m-
mCORRECTmANSWERmFinalminspection,macceptancembymownermandmsubmittalmofmpropermd


ocumentationmmustmoccur



10. Aftermhiringmamdisabledmperson,mwhichmofmthemfollowingmcan'tmyoumdo,maccordingmtomthem
AmericanmwithmDisabilitiesmAct?m-
mCORRECTmANSWERmRequiremammedicalmexaminationmofmjustmthempersonmyoumsuspectmism


disabled.



11. Thempercentagemofmcompletionmmethodmofmaccountingmdoesmwhatm-
mCORRECTmANSWERmrecognizesmprofitmasmitmismearned




12. Workersmaremonmamjobmsitemwheremnoisemismverymloud.mWhomismsupposedmtomsupplymthemw
orkersmwithmearmprotection?m-mCORRECTmANSWERmcontractorm(employer)



13. Wheremcanmyoumgetmaccurateminformationmaboutmtaxmdepositmschedules?m-
mCORRECTmANSWERmIRSmPublicationmCircularmE




14. Whichmofmthemfollowingmstatementsmcorrectlymdescribesmthemcashmmethodmofmaccounting
?m-
mCORRECTmANSWERmIncomem/mexpensesmaremrecordedmatmthemtimemtheymaremreceivedm/m


paid



15. Whatmtypemofmworkplaceminsurancemprovidesmallmthembenefitsmrequiredmbymlawmformemplo
yees'mwhomaremkilledmorminjuredmasmamresultmofmtheirmemploymentm-
mCORRECTmANSWERmWorkersmCompensation
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Louisiana
Course
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Uploaded on
May 18, 2026
Number of pages
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Written in
2025/2026
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