Tài chính doanh nghiệpCâu 1153 / 1605
On a home improvement contract, the down payment a contractor may collect is limited by law to whichever is less:
a.25% of the contract or $5,000
b.20% of the contract or $10,000
c.50% of the contract or $2,500
d.10% of the contract price or $1,000
Giải thích
Under B&P Code §7159, for home improvement contracts the down payment cannot exceed 10% of the contract price or $1,000, whichever is LESS. This protects consumers from large upfront payments; the balance is collected through progress payments as work proceeds.
Trích dẫn luật: Business & Professions Code §7159Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- On most California public works projects, retention withheld by the public entity is generally limited to a maximum of:
- 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?
- Progress billing (progress payments) means the contractor:
- On a home improvement contract, payments a contractor schedules and collects must:
- Under the schedule-of-values method of progress billing, each payment application is based on:
- In California, sales or use tax on materials a contractor consumes to fulfill a construction contract is generally:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)