Construction-related skills and knowledge required in a administrative positions in the construction industry.
True
False
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Limited Liability Company
Corporation
Joint Venture
General Partnership
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True
False
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True
False
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True
False
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True
False
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Civil
Commercial
Railroads
Industrial
Parks
Institutional
Resorts
Residential
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Employees
General Partners
Stockholders
Sole Proprietor
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True
False
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True
False
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Owner
Subcontractor
General Contractor
Supplier
Vendor
Construction Manager
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True
False
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Small, Medium or Large
Retail or Office
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Registered Professional Engineer
Contractor
Owner, Architect, Contractor, Subcontractor and Vendor
Engineer is usually the primary designer, while architect plays and active role
Residential contractor and the managing firm
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True
False
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Owner
Subcontractor
General Contractor
Supplier
Vendor
Construction Manager
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True
False
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True
False
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Registered Professional Engineer
Contractor
Owner, Architect, Contractor, Subcontractor and Vendor
Engineer is usually the primary designer, while architect plays and active role
Residential contractor and the managing firm
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Construction company can one person or large corporation
Private individual, a corporation or government agency
Private or government entity
Private individual or company
City, County, States and Federal agencies
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True
False
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Simplest form of business ownership
Combining of financial resources
Co-owner's liabilities and profits are limited and are equal to the amount of capital and property invested in the company.
Combining resources
Stock can be sold to obtain capital
No business taxes to pay
Retains all company profits
Cannot be held personally responsible for company s debt
Combines resources, assets, and facilities as well as spreading project risk
Owners are regarded as separate and distinct by law
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Has all rights associated with controlling business
Has unlimited personal liability for all partnership debts
Acts as agent of partnership
Has no right to participate in management and control of business
Liability limited to amount of capital partner has contributed to business
Is not an agent of the partnership
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Construction company can one person or large corporation
Private individual, a corporation or government agency
Private or government entity
Private individual or company
City, County, States and Federal agencies
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Construction company can one person or large corporation
Private individual, a corporation or government agency
Private or government entity
Private individual or company
City, County, States and Federal agencies
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Managers
Employees
General Partners
Stockholders
Board of Directors
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True
False
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Owner
Subcontractor
General Contractor
Design Professional
Supplier
Vendor
Construction Manager
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Simplest form of business ownership
Combining of financial resources
Co-owner's liabilities and profits are limited and are equal to the amount of capital and property invested in the company.
Combining resources
Stock can be sold to obtain capital
No business taxes to pay
Retains all company profits
Cannot be held personally responsible for company s debt
Combines resources, assets, and facilities as well as spreading project risk
Owners are regarded as separate and distinct by law
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Owner take full responsibility for the company's assets, debts, obligations and profits
An association of two or more persons
Pays no corporate taxes
"General" and "Limited" describes this type of ownership
Has Stockholders as owners
A Joint Venture
Combine the advantages of partnerships and corporations
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Construction company can one person or large corporation
Private individual, a corporation or government agency
Private or government entity
Private individual or company
City, County, States and Federal agencies
Rate this question:
Simplest form of business ownership
Combining of financial resources
Co-owner's liabilities and profits are limited and are equal to the amount of capital and property invested in the company.
Combining resources
Stock can be sold to obtain capital
No business taxes to pay
Retains all company profits
Cannot be held personally responsible for company s debt
Combines resources, assets, and facilities as well as spreading project risk
Owners are regarded as separate and distinct by law
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Owner
Subcontractor
General Contractor
Design Professional
Supplier
Vendor
Construction Manager
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Reinvest the profit back into the corporation
Pay off loans
Purchase additional stock
Distribute dividends to stockholders
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Construction company can one person or large corporation
Private individual, a corporation or government agency
Private or government entity
Private individual or company
City, County, States and Federal agencies
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Cost can be controlled
Clear lines of communication can be established between parties
Cost savings can be realized by overlapping the design and construction phases, which is referred to as "fast-tracking"
Realignment of responsibilities and risks on project by allocating them to the parties most capable of managing them
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Construction Management Company
Partnership
Joint Venture
Multiple Prime Contractors
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Overcome communication problem found in the traditional arrangement of contracting
Shift the traditional responsibilities in construction
Reduce the time involved to produce finished project
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True
False
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Registered Professional Engineer
Contractor
Owner, Architect, Contractor, Subcontractor and Vendor
Engineer is usually the primary designer, while architect plays and active role
Residential contractor and the managing firm
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Has all rights associated with controlling business
Has unlimited personal liability for all partnership debts
Acts as agent of partnership
Has no right to participate in management and control of business
Liability limited to amount of capital partner has contributed to business
Is not an agent of the partnership
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Quiz Review Timeline (Updated): Oct 15, 2024 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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