A job has cost to date of $64,000 and estimated total cost of $160,000. What percent complete is the job based on cost?
Correct Answer
A) 40 percent.
Percent complete based on cost is cost to date divided by estimated total cost: $64,000 / $160,000 = 40 percent.
Why This Is the Correct Answer
Percent complete based on cost is cost to date divided by estimated total cost: $64,000 / $160,000 = 40 percent.
Why the Other Options Are Wrong
Option B: 25 percent.
25 percent. is below the supported result for percent complete; it likely uses the wrong base, period, or account bucket.
Option C: 60 percent.
60 percent. is above the supported result for percent complete; it likely adds an unsupported amount or compares the wrong financial base.
Option D: 64 percent.
64 percent. is above the supported result for percent complete; it likely adds an unsupported amount or compares the wrong financial base.
Memory Technique
Preparing Contractor'S money test: bucket before math for the controlling choice complete.
Reference Hint
Study anchor (closed-book): memorize Percent complete from CSLB Law and Business Study Guide; CSLB 2026 Law Book / CSLB Law and Business Study Guide Business Finances; know the rule or calculation trigger without relying on exam-room lookup.
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