Even the Smallest Building Project Involves a Multitude of Separate

question 2

Multiple Choice

Even the smallest building project involves a multitude of separate contractors to complete construction. Therefore, it becomes difficult for the developer to monitor the construction process. Which of the following individuals serves as the developer's liaison and representative on the project site?

• A) General contractor
• B) Construction manager
• C) Land planner
• D) Subcontractor

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Definitions:

Executory Costs

Expenses arising from operational agreements, such as leases, which are not yet settled.

Periodic Lease Rental Payments

Regular payments made by a lessee to a lessor for the use of property, equipment, or vehicles, typically established under a lease agreement.

Direct Financing Lease

A leasing arrangement in which the lessor finances the leased asset, and the lessee's payments are structured to cover the asset's costs and provide a return to the lessor.