Florida Contractors License Exams

Florida Air A Contractors (AA)

Sample Questions for the Florida Air A Contractors Exam

  1. The ratio of net profits to sales is computed by:
    1. dividing net profits by gross income
    2. dividing gross income by net profits
    3. multiplying gross profit by net profit
    4. dividing net profit by gross profit
  2. A comparative statement shows:
    1. results from one company to another
    2. actual to budgeted results
    3. results from one period or date, to another period or date
    4. varying outcomes depending on classification of transactions as assets or current expenses
  3. When part of each progress billing is held back, it's called:
    1. accrual
    2. retainage
    3. deferred income
    4. backup withholding
  4. Straight line depreciation is computed by:
    1. dividing the value of the asset by the years in the recovery period, and claiming the same deduction every year
    2. depreciating the asset only to the extent that it is paid for; so if you finance the asset, you can claim a write-off only to the extent that you pay the bank
    3. taking the expense as a straight line-item write- off in the year purchased
    4. writing off the asset only over 35 years
  5. In an operation including shop work, you could have up to four different types of inventory. These are:
    1. raw materials, purchased materials, overstock, and finished goods
    2. raw materials, job-assigned materials, supplied, and all other
    3. regular inventory, special-order inventory, pending inventory, and supplies
    4. raw materials, supplies, work in process, and finished goods
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