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FLORIDA AIR EXAM BUSINESS AND FINANCE
EXAM NEWEST 2025 ACTUAL EXAM
COMPLETE 100 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
What is the allowable work hours for a minor ate the age 17? - ANSWER-30 hrs a week when school is in session.Contractors Manual Pg 5-32
What is the maximum reemployment tax rate? - ANSWER-5.4%
(0.0540)
Contractors Manual Pg 5-296
How long does an employer has to keep records of an employment eligibility verification form (I-9)? - ANSWER-I-9 must be kept for all current employees throughout their employment. For terminated employees, I-9 must be retained 3 years after the date hired or one year after termination whichever is the later date.Contractors Manual Pg 5-58
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Within how many days does a recordable incident must be entered into OSHA form 300/300A - ANSWER-7 Days Contractors Manual Pg 7-6
Tangible personal property tax report is used to ____. - ANSWER-Report tangible property (equipment, furniture,etc) and inventory on a yearly basis Contractors Manual pg 1-24
All businesses which collects sale tax must secure a _____ from the Department of Revenue. - ANSWER-Certificate of Registration Contractor's Manual Pg 1-21
Form 941 is used to report _____. - ANSWER-Income tax, Medicare taxes, and social security taxes on a quarterly basis Contractors Manual Pg 1-23
What is the discount of a loan of $10,000 on a 9% discounted basis for one year? - ANSWER-$900. The discount is the money that is taken out of the loan, not the loan amount received
($9100) 2 / 3
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Contractors manual Pg 3-74
If Owner files a notice of contest of lien, the lienor must be careful to avoid losing lien rights by filing a lawsuit to enforce lien within ____ days of the filing of notice of contest. - ANSWER-60 Days Contractors Manual Pg 9-31
What is accrued income? - ANSWER-Money that is truly earned Builders Accounting Pg 24
The goal of the _____ method is to accurately match earning with the events that resulted in the earnings. - ANSWER- Accrual Method Contractors Manual Pg 3-18
How much interest will a compound interest loan earn in May if the rate is 9% and the loan is $10,000? - ANSWER-$76.43 Contractors Manual 2017 Pg 3-74
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