Which of the Following Would Be Included in the Cost

question 52

Multiple Choice

Which of the following would be included in the cost of a constructed building?

• A) Purchase price of the building
• B) Payments for material, labour, and overhead
• C) Survey and legal fees
• D) Realtor commissions
• E) Cost of tearing down old building

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Definitions:

Employer-Independent Contractor

A non-employment relationship where an individual provides services to a business without being an employee.

Agency Laws

Regulations that govern the relationship between an agent, who acts on behalf of another, and the principal, for whom the agent acts.

Employee

A person legally contracted to work for another in return for financial or other compensation, under certain conditions of employment.

Employer-Employee Relationship

A legal and professional relationship between an employer and their employee, characterized by the exchange of labor for compensation, under agreed conditions.