商业财务第 1154 / 1605 题
On a home improvement contract, payments a contractor schedules and collects must:
a.Exceed the value of completed work to protect the contractor
b.Be paid entirely before any work begins
c.Always be collected in a single lump sum
d.Not exceed the value of work performed and materials delivered at the time of payment
解析
The home improvement contract law requires that progress payments not exceed the value of work performed plus materials delivered at the time of each payment. A contractor may not stay 'ahead' of the work by collecting for uncompleted portions.
法律依据: Business & Professions Code §7159免费刷完整 1605 道题库 — 无需注册。
同考点相关题目
- 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, the down payment a contractor may collect is limited by law to whichever is less:
- 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:
- The California minimum franchise tax that most corporations must pay to the Franchise Tax Board each year is: