Tài chính doanh nghiệpCâu 1151 / 1605
A contractor completes a $250,000 job on which the owner withheld 10% retention throughout. Assuming no deductions, how much retention should be released at closeout?
a.$12,500
b.$2,500
c.$25,000
d.$225,000
Giải thích
Total retention = 10% of the $250,000 contract = $25,000. Once the work is accepted and any lien/warranty conditions are met, the full $25,000 retention is released to the contractor.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An owner withholds 10% retention on a $40,000 progress billing. How much does the contractor receive on that billing?
- The primary purpose of retention (retainage) on a construction contract is to:
- On most California public works projects, retention withheld by the public entity is generally limited to a maximum of:
- Progress billing (progress payments) means the contractor:
- On a home improvement contract, the down payment a contractor may collect is limited by law to whichever is less:
- On a home improvement contract, payments a contractor schedules and collects must:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)