Financial Terms in Construction

Financial Terms in Construction

University

10 Qs

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Financial Terms in Construction

Financial Terms in Construction

Assessment

Quiz

Construction

University

Practice Problem

Medium

Created by

DR. HASSAN

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets are most simply what a construction business has. They’re resources that hold value for a construction business because they can lead to cash. Types can include current assets, fixed assets and other long-term assets.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Current assets are assets that can be easily converted cash within 12 months.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fixed assets are resources that a construction business owns and uses for more than one year, such as buildings and machinery.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Current assets are assets that are expected to be converted into cash or used up within a period longer than one year.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Liabilities represent what a construction business owes to others, including loans and unpaid bills.

False

True

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Leverage are most simply what a construction business owes.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial statements are the official record of a construction company’s financial activities and position.

True
False

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