WorksheetsConstruction management quiz 2
Total questions: 13
Worksheet time: 7mins
Which of the following is an advantage of a sole proprietorship?
Easy to raise large capital
Quick decision-making
Limited liability
Complex formation process
A major disadvantage of sole proprietorship is:
Unlimited liability
Shared profits
Legal formalities are more
Double taxation
Sole proprietorship is best suited for:
Large construction companies
Small businesses with less capital
Multi-national corporations
Government projects
In a partnership, profits and losses are:
Borne by one person
Shared among partners
Paid to government
Kept by employees
One disadvantage of partnership is:
Large capital availability
Limited legal formalities
Unlimited liability of partners
Quick decision-making
The minimum number of partners required to start a partnership firm is:
1
2
3
5
The main advantage of an LLC is:
Unlimited liability
Limited liability of owners
No need for capital
Business is only for government projects
LLC stands for:
Large Limited Corporation
Limited Liability Company
Local Legal Committee
Loan Liability Corporation
Earnest Money Deposit (EMD) is paid to:
Buy construction materials
Show seriousness in bidding
Pay salaries to workers
Purchase machinery
Earnest Money Deposit is refunded if:
The contractor refuses the work
The contractor completes the work
The bid is not accepted
The contractor withdraws midway
EMD is usually a percentage of:
Total project cost
Contractor's profit
Material cost
Labour cost
Security deposit is collected to:
Provide loan to contractor
Ensure proper performance of work
Pay taxes to government
Purchase site equipment
Security deposit is generally refunded:
Immediately after contract signing
During the project work
After successful completion of work
Never refunded
