Finanzas ComercialesPregunta 1200 de 1632
A contractor bills $75,000 on a job. The contract requires 5% retention and the owner also back-charges $1,500 for a utility relocation. How much will the contractor receive on this billing?
a.$71,250
b.$69,750
c.$73,500
d.$66,000
Explicación
Retention = 5% of $75,000 = $3,750, leaving $71,250. Subtract the $1,500 back-charge: $71,250 - $1,500 = $69,750 (b). Civil Code §8811 caps private-works retention at 5% for contracts entered into on or after January 1, 2026. (a) $71,250 stops after the retention and forgets the back-charge. (c) $73,500 deducts only the back-charge and forgets the retention. (d) $66,000 is the answer under the superseded 10% retention: $75,000 - $7,500 - $1,500.
Practica las 1632 preguntas gratis — sin registro.
Own the complete CSLB Law & Business guide — PDF + EPUB, $24.99 →
Preguntas relacionadas de este tema
- A written, signed change order is important because it:
- A contractor's equipment cost $18,000 and after 3 years of straight-line depreciation (6-year life, no salvage) its book value is:
- A markup that covers BOTH overhead and profit is sometimes called:
- Which is the best reason to separate business and personal bank accounts?
- A contractor's job had estimated direct costs of $40,000 but actual costs of $46,000. He bid a fixed price of $50,000. What was his actual gross profit?
- A contractor pays $1,200/month for general liability insurance and $2,000/month office rent. These are examples of:
Última revisión: · proceso editorial
Equipo de PrepPass · Verificado con California CSLB Contractor License Law & Business Exam · Cómo revisamos
Revisado por Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verificar)