Business & Financial Management

A Eustis startup budget includes equipment purchases of $24,700, office setup of $9,800, and first payroll reserve of $21,400. What total startup cash need should be shown?

A Royal Palm Beach startup expects monthly fixed overhead of $78,000 and average gross margin of 18.0% of sales. What monthly sales volume is needed to break even?

A Palm Springs startup bids a project at $94,500 with estimated cost of $75,600. What gross profit dollars should the owner expect?

A Wauchula startup will lease an copy equipment for 36 months at $420 per month. What lease commitment should be tracked?

A Key Largo startup expects to borrow $140,000 for one month on its line of credit at 6.8% annual interest. What one-month interest cost should be budgeted?

The Fort Meade startup checklist requires 14 records and has 11 completed. What status should be reported?

A Fleming Island startup expects its first bonded job to require a $950,000 bond at 0.9%. What bond premium should be budgeted?

A LaBelle startup expects its first bonded job to require a $320,000 bond at 1.6%. What bond premium should be budgeted?

A Doral startup expects card collections of $52,000 with a 2.8% processing fee. What fee cost should be budgeted?

A Aventura startup expects card collections of $88,000 with a 2.4% processing fee. What fee cost should be budgeted?

A Fort Myers startup budgets monthly overhead of $42,000 and wants a 3-month operating reserve. What reserve should be funded?

The Largo startup has this supplier-credit issue: supplier asks for bank reference. Which establishment record should be prepared?

The Fort Walton Beach startup has this supplier-credit issue: vendor sets low initial limit. Which establishment record should be prepared?

The Tierra Verde startup wants to standardize standard subcontract form. Which startup control should be created?

The Brooksville startup has this safety-establishment need: supervisors need incident-report procedure. Which file should be opened?

The Westchase startup has this safety-establishment need: PPE policy must be documented. Which file should be opened?

The North Miami startup marketing file has this issue: website says licensed before license number is issued. Which establishment review applies?

The Cocoa contractor is opening its office and has this lease issue: new office lease requires certificate of insurance. Which startup record should be created?

The Hallandale Beach startup adds vehicles and notes this issue: company vehicle added before first job. Which establishment file should be used?

The Dade City startup adds vehicles and notes this issue: driver authorization policy needed. Which establishment file should be used?

The Okeechobee startup retains a professional advisor for this purpose: insurance agent places initial coverage. Which establishment record is most relevant?

A Parkland startup has 2 owners and needs a written operating agreement. Which startup concern does this address?

The Callaway startup is writing a document-retention policy and notes this issue: electronic project files need naming rules. Which policy control applies?

The Live Oak startup is writing a document-retention policy and notes this issue: records should not be destroyed during a dispute. Which policy control applies?

The North Miami Beach startup is prequalifying subcontractors and sees this insurance issue: certificate expiration dates must be monitored. Which setup control is best?

The Temple Terrace startup wants a dispute-escalation policy for this issue: customer disputes need an owner-level escalation path. Which startup control should be documented?

The Lake Park startup wants a dispute-escalation policy for this issue: notices must be issued by the right person. Which startup control should be documented?

The Port Orange startup is designing management reporting and notes this need: monthly financial close dates must be assigned. Which setup item best fits?

The West Park startup needs this administrative setup: startup checklist before first bid. Which establishment control best fits?

The Minneola startup wants to control bid decisions with this rule: owner wants written bid/no-bid criteria. Which startup process applies?

The Dunedin management action-item log begins with 8 open items, closes 4, and adds 7. How many action items remain open?

The Jupiter fuel-card log begins with 86 active cards, issues 31, and receives 12 returned cards. How many active cards should remain?

The Palmetto receivable aging shows $194,000 total receivables and $41,000 over 30 days. What percent of receivables is over 30 days?

The Fort Walton Beach receivable aging shows $342,000 total receivables and $76,000 over 30 days. What percent of receivables is over 30 days?

The Newberry office target is to close monthly administrative records in 10 days. Actual close took 13 days. What status should management report?

A Fort Myers credit agreement limits line usage to 75% of a $600,000 line. Current borrowing is $468,000. What status should management report?

An Auburndale noncancelable equipment lease requires 18 monthly payments of $2,100. Six have been paid; no other charges or options apply. What undiscounted future payment commitment remains?

A Cooper City approved change order is $104,500, and $88,000 has already been billed. What approved amount remains unbilled?

A Tallahassee contract requires an owner-signed change order for this proposed scope, with no alternative directive applicable. The change is priced but unsigned. Which listed record best tracks its pending approval?

A Riverview bank balance is $87,500 and book balance $90,400. The sole identified timing item is a $1,600 deposit in transit included in books but not the bank. What difference remains after that adjustment?

A Tarpon Springs queue contains 87 distinct requests. Of these, 76 are approved and 4 are voided, with no overlap. How many remain unresolved?

A Coral Springs bond premium estimate applies a 1.25% rate to a $420,000 bond amount. What premium should be budgeted?

A Gainesville bond premium estimate applies a 0.95% rate to a $780,000 bond amount. What premium should be budgeted?

The Homestead office plans to use $74,500 from its line of credit for 6 months at 5.9% annual interest. What interest cost should be forecast?

A Oviedo procurement card has a monthly limit of $2,500 and current cycle charges of $2,350. What status should the administrator report?

A Venice procurement card has a monthly limit of $5,000 and current cycle charges of $6,125. What status should the administrator report?

A Longwood petty-cash fund is authorized at $500. Receipts on hand total $148, and cash counted is $196. What replenishment amount is needed to restore the fund?

A Palm Harbor office lease renews with monthly rent of $3,600 and a 3.5% escalation. What new monthly rent should be budgeted?

A Hallandale Beach insurance renewal allocates a 0.85% general liability charge to $280,000 of subcontracted work. What cost should be budgeted?

A Newberry insurance renewal allocates a 1.10% general liability charge to $415,000 of subcontracted work. What cost should be budgeted?

A Eagle Lake insurance renewal allocates a 1.35% general liability charge to $165,000 of subcontracted work. What cost should be budgeted?

A Winter Haven subcontractor certificate expires in 42 days. Company procedure requires renewal review 45 days before expiration. How many days late is the renewal review?

The Orange Park warranty log shows 18 service calls opened and 11 closed. How many warranty items remain open?

An audit samples 15 of 58 vendor files and finds an exception in 4 distinct sampled files. What percentage of sampled files has an exception, rounded to one decimal place?

An Oakland Park queue has 38 invoices. Initial review is complete for 27 approved invoices and 6 separate invoices placed on hold. How many have not yet received initial review?

A Altamonte Springs cash-receipts policy requires owner checks to be deposited within 2 business days. A $28,400 check was deposited after 5 business days. What should the administrator report?

A Fern Park cash-receipts policy requires owner checks to be deposited within 2 business days. A $9,800 check was deposited after 2 business days. What should the administrator report?

A Lakeland insurance audit estimates a 0.74% charge on $820,000 of auditable exposure. What audit premium should be accrued?

The Newberry surety file lists aggregate capacity of $2,500,000 and bonded backlog of $1,120,000. What status should be reported?

The Jensen Beach open-commitment log begins with 28 commitments, adds 11, and closes 9. How many commitments remain open?

A Jacksonville drywall crew installs 420 board units using 70 labor-hours. What production rate should the foreman report?

A Fort Myers trade cost code shows $27,360 for 480 installed units. What installed unit cost should be reported?

A Fort Pierce drywall crew installs 192 board units using 32 labor-hours. What production rate should the foreman report?

A Stuart job rents a lift for 4 days at $725 per day plus $425 delivery. What equipment rental cost should be coded?

A Kissimmee tile operation needs 3120 net square feet and allows 5.0% waste. What purchase quantity should be planned?

A Port St. Lucie crew has 84 boxes covering 32 square feet each, and the work area needs 2520 square feet. What material status should be reported?

A Vero Beach crew has 96 boxes covering 24 square feet each, and the work area needs 2240 square feet. What material status should be reported?

A Palm Bay trade cost code shows $14,875 for 175 installed units. What installed unit cost should be reported?

A Titusville unit-price item pays $18.50 per installed unit and the accepted quantity is 735 units. What revenue should be billed for the item?

A Fort Pierce subcontractor planned 420 units this week but completed 380. If recovery production costs $42 per unit, what recovery cost exposure is indicated?

A Fort Lauderdale logistics plan adds 9 off-hour deliveries at $310 each. What added logistics cost should be forecast?

A Port Charlotte trade material has a 14-day lead time and must be installed on project day 42. What latest release day keeps the activity supplied?

A Frostproof material line planned 260 units but used 242 units at $24 each. What cost variance should be logged?

A Edgewater crew produced 5.8 units per labor-hour last week and 6.6 this week. What productivity trend change should be reported?

A Okeechobee crew produced 4.5 units per labor-hour last week and 5.1 this week. What productivity trend change should be reported?

A Parkland material line planned 400 units but used 455 units at $18 each. What cost variance should be logged?

A Estero trade unit cost is $54.25 against a baseline of $49.80. What status should be reported?

A North Miami Beach trade unit cost is $37.10 against a baseline of $41.60. What status should be reported?

A Gulfport trade unit cost is $68.40 against a baseline of $62.25. What status should be reported?

A Fort Meade punch list has 12 trade items estimated at $160 each. What completion cost should be forecast?

A Lynn Haven punch list has 8 trade items estimated at $245 each. What completion cost should be forecast?

A Pinecrest punch list has 15 trade items estimated at $125 each. What completion cost should be forecast?

An approved trade backcharge lists $1,250 cleanup, $2,840 repair and $310 documentation, with all three items authorized and no further adjustments. What total should be posted?

An approved trade backcharge includes $680 cleanup, $1,475 repair and $220 documentation. All three amounts are authorized and no further adjustment applies. What total should be posted?

An approved trade backcharge includes $2,100 cleanup, $3,360 repair and $475 documentation. All three amounts are authorized and no further adjustment applies. What total should be posted?

The Hallandale Beach trade package has this material-substitution issue: supplier proposes equal product after approval. Which review should occur first?

The Fernandina Beach project is closing a trade operation with this handoff need: warranty team needs product and installer records. Which record should be prepared?

The West Melbourne project team is setting up trade cost records. The noted need is: equipment charges must not be mixed with material cost. Which control is most appropriate?

The Quincy trade crew has this material-handling issue: stored material blocks the access path. Which operating control should be used?

The Dade City project has this shared-resource issue: idle rented unit must be sent back when no longer needed. Which trade-operation control applies?

A Florida GC's balance sheet shows current assets of $415,000 and current liabilities of $278,000. What working capital should be reported?

A Haines City project earned revenue of $468,000 and recorded job cost of $351,000. What gross profit percentage should be reported?

A job's estimated total revenue is $980,000 and estimated total cost is $735,000. What estimated gross profit is built into the job?

A $2,100,000 contract is 55% complete, and billings to date are $1,210,000. What billing position exists?

A progress billing before retainage is $426,000, and the contract retains 8%. What retainage receivable is recorded?

A gross progress invoice is $188,500 and retainage is 5%. What net current billing should be sent?

A skid steer cost $74,000, has a $6,000 salvage value, and is expected to run 4,000 hours. What depreciation rate per operating hour should be used?

A cost code budgeted 3,600 units at $8.40 each. Actual cost is 3,780 units at $8.10 each. What total cost variance appears?

A project phase includes $94,500 direct labor and $156,750 direct material. What combined direct cost is posted?

Actual overhead is $67,200 and overhead applied to jobs is $63,450. What adjustment is indicated?

An hourly mason earns $33 per hour, works 40 regular hours, and works 8 overtime hours at time-and-a-half. What gross wages should be recorded?

A worker's gross pay is $2,340. Deductions are $280 federal withholding, $179.01 FICA/Medicare, and $55 insurance. What net pay is issued?

A six-month rent prepayment of $21,000 was recorded as an asset. After two months expire, what rent expense should be recognized?

A $96,000 note payable carries 7.5% annual interest. One month of unpaid interest has accrued. What interest expense should be recorded?

Estimated total revenue is $1,320,000 and estimated total cost is $1,023,000. What estimated gross profit is built into the job?

Beginning receivables are $164,000, ending receivables are $196,000, and annual credit sales are $2,160,000. What accounts receivable turnover is indicated?

An invoice of $98,400 has a $7,250 credit memo applied. The customer then pays $62,000. What receivable balance remains?

The book cash balance is $63,250. The bank recorded a $95 service charge and a $3,600 note collection not yet recorded in the books. What adjusted book balance results?

A $1,200,000 project is 35% complete. Billings to date are $455,000. What billing position exists?

Inventory starts with 140 units at $16. A second layer adds 90 units at $19. Under FIFO, what cost is charged when 180 units are issued?

A Florida GC has 200 units at $11 and buys 300 more at $13. Using weighted average, what cost is assigned to 250 units issued?

After issuing 160 units from inventory that had 100 units at $14 and 120 units at $17 under FIFO, what ending inventory value remains?

Direct labor for a concrete phase is $74,000 and direct material is $112,500. What combined direct cost is posted?

A job's remaining contract balance is $680,000 and expected remaining cost is $527,000. What remaining gross profit is in backlog?

A Florida job has gross payroll of $24,800. Employer FICA/Medicare is 7.65%, workers' compensation is 5.10%, and SUTA is 1.80%. Ignore wage-base limits. What employer payroll burden is accrued?

An hourly finisher earns $29.50 per hour, works 39 regular hours, and works 6 overtime hours at time-and-a-half. What gross wages should be recorded?

Workers' compensation is rated at $6.25 per $100 of payroll. If a Florida job posts $82,400 of covered payroll, what premium should be accrued?

A month-end adjusting entry must record $4,650 of earned but unbilled revenue. What amount increases revenue?

A $75,000 note payable carries 8% annual interest. One month of interest has accrued but is unpaid. What interest expense should be recorded?

A job has direct costs of $520,000 and allocated overhead of $78,000. What total job cost is shown?

A contractor schedules a 1.5-hour training session for each of 24 employees. How many total employee-hours of attendance should be planned?

An internal quarterly turnover measure is separations divided by average headcount, expressed as a percentage. A contractor had 6 separations and average headcount of 48 during the quarter. What rate should it report?

A field group recorded 72 absence hours out of 1,440 scheduled hours in the same reporting period. Using absence hours divided by scheduled hours, what percentage was absent?

The Sarasota contractor is preparing to hire and notes this need: field engineer role must list required credentials before recruiting. Which HR item should be prepared?

The Lakeland payroll file has this timekeeping issue: missed punch must be documented before payroll closes. Which HR/payroll control should be used?

A Tallahassee contractor is checking workers compensation documentation. The issue is: officer exemption document is missing. Which HR/risk record applies?

A Deerfield Beach supervisor observes this protective-equipment issue: crew lacks eye protection for cutting work. Which HR/safety action should be documented?

The Delray Beach project has this hazard-communication issue: new coating product arrives without chemical information available to workers. Which HR/safety record should be opened?

The West Palm Beach supervisor is handling this employee-performance issue: safety rule violation needs fair documentation. Which HR record should be prepared?

The Lake City supervisor is handling this employee-performance issue: verbal warning was issued and must be tracked. Which HR record should be prepared?

The Hollywood supervisor is handling this employee-performance issue: repeat attendance problem needs supervisor follow-up. Which HR record should be prepared?

The Aventura HR office receives this workplace complaint issue: witness statements must be kept together. Which control is most appropriate?

The Lauderhill office is closing an employee file. The issue is: terminated employee must return keys and tablet. Which HR closeout record applies?

The Brooksville contractor is reviewing worker status. The issue is: 1099 worker uses company tools and fixed schedule. Which HR control should be used?

The North Lauderdale payroll department has this withholding issue: court withholding must be handled consistently. Which HR/payroll item applies?

The Gulf Breeze payroll department has this withholding issue: voluntary tool repayment needs written authorization. Which HR/payroll item applies?

The Palatka HR/payroll office is checking wage records. The issue is: regular and overtime hours must be available for review. Which control is best?

The Quincy supervisor is documenting a safety meeting. The issue is: topic discussed must be tied to current hazards. Which HR/safety record applies?

The Sunrise workers compensation file has this return-to-work issue: injured employee can return with lifting limits. Which record should be used?

A Cape Coral HR clerk is setting up employment eligibility controls. The issue is: employer must review identity and work authorization documents. Which compliance control applies?

The Gainesville HR manager is reviewing wage classification. The issue is: assistant superintendent regularly performs manual labor. Which control best fits?

The Tampa contractor is preparing to hire and notes this need: superintendent position needs written pay, start date, and reporting line. Which HR item should be prepared?

The Ocoee HR file has this leave-management issue: employee asks for medical leave paperwork. Which record should be used?

The Fleming Island safety manager is addressing this communication issue: new employee does not understand task signs. Which HR/safety control should be documented?

A Fort Myers contractor estimates payroll of $145,000 for a class rated at 7.2%. What workers compensation premium estimate should be budgeted?

The Vero Beach HR manager is reviewing wage classification. The issue is: office employee's duties changed after promotion. Which control best fits?

A Jacksonville HR clerk is setting up employment eligibility controls. The issue is: new worker accepted the job and must complete employment eligibility attestation. Which compliance control applies?

The Pensacola office is completing onboarding and notes this issue: employee must acknowledge safety and wage policies. Which personnel item should be used?

A Doral contractor is checking workers compensation documentation. The issue is: policy expires during the project. Which HR/risk record applies?

A nonexempt Stuart employee has 42 straight-time hours recorded plus 6 additional overtime hours at $36 per hour. What gross pay should be calculated?

On a Lake Mary private project, the office is preparing for this event: owner asks why the permit card is not enough. Which Chapter 713 record should be confirmed before the first inspection?

The Tallahassee license file includes this Chapter 455 issue: minor violation is handled by department citation. Which regulatory path is most directly involved?

A Homestead contractor buys roofing material for a nonprofit facility for incorporation into real property. The owner is tax-exempt, but the contractor is the purchaser. What should the tax file generally show?

In the Cape Coral sales-tax file, the purchasing setup is: contractor buys and later bills owner. Which compliance review is most relevant?

The Deerfield Beach job startup file shows this issue: trade scope exceeds license category. Which compliance review is most appropriate?

The Maitland notice-of-commencement file has this issue: NOC recorded but not posted at site. What administrative action should be recorded?

The Key West notice-of-commencement file has this issue: owner makes payments after NOC expiration warning date. What administrative action should be recorded?

On a Palm Harbor private project, lender requests final payment backup and the compliance file shows affidavit pending. What should the office flag?

The Lauderhill lien-release file shows this issue: unconditional final release before payment clears. Which compliance label best fits?

On a St. Petersburg private project, the office is preparing for this event: first inspection is being scheduled. Which Chapter 713 record should be confirmed before the first inspection?

In the Sanford sales-tax file, the purchasing setup is: supplier ships materials to the job for contractor account. Which compliance review is most relevant?

A Palm Coast contractor buys concrete supplies for a city project for incorporation into real property. The owner is tax-exempt, but the contractor is the purchaser. What should the tax file generally show?

A Ocala lienor last furnished labor or materials 104 days ago and is considering a claim of lien. What timing status applies?

A Bradenton claim of lien was recorded 8 months ago, and no enforcement action has been filed. What should the compliance calendar flag?

On a Pensacola private project, the office is preparing for this event: construction lender asks for lien-risk support. Which Chapter 713 record should be confirmed before the first inspection?

The Coral Springs project file has this lien-law situation: supplier is not in direct contract with the owner. Which document is most directly associated with the compliance step?

The Winter Park project file has this lien-law situation: lienor is ready to record claim. Which document is most directly associated with the compliance step?

The Pompano Beach license file includes this Chapter 455 issue: citation lists alleged law section and penalty. Which regulatory path is most directly involved?

In the Aventura sales-tax file, the purchasing setup is: tax-exempt owner buys materials directly. Which compliance review is most relevant?

A Miami Gardens file flags alleged misapplied construction payments of $225,000. What compliance status should the office investigate first?

The Haines City job startup file shows this issue: permit card not available for inspection. Which compliance review is most appropriate?

The Lake Worth notice-of-commencement file has this issue: NOC missing from lender packet. What administrative action should be recorded?

On a Ocoee private project, owner is preparing final payment and the compliance file shows contractor affidavit not received. What should the office flag?

The Cutler Bay lien-release file shows this issue: release names wrong legal owner. Which compliance label best fits?

The Niceville compliance audit expects 118 required records and finds 111 retained. What status should be reported?

How long before instituting an action to enforce its lien must a contractor deliver the final payment affidavit to the owner?

Which combination is prima facie evidence under s. 489.126(3)(b) that a contractor took more money than the work was worth?

A contractor was terminated mid-project and final payment has not become due. Must it still furnish the final payment affidavit before suing on its lien?

A contractor breaches no specific prohibition but ignores a lawful order of the Construction Industry Licensing Board. Is that a ground for discipline?

In what amount must a contractor furnish the payment bond that exempts an owner under s. 713.23?