6 Questions
Which of the following is NOT included in projected income for the design-construction industry?
Anticipated expenses
What should be considered when adjusting projected income in the design-construction industry?
All of the above
How are profits usually estimated in the design-construction industry?
As a percentage of projected revenues
Which of the following is NOT a component of a financial plan for an architectural practice?
Number and type of staff
Why is short-term financial planning usually called budgeting?
Because it requires annual financial statements
What is the purpose of a financial plan in an architectural practice?
To serve as guidelines for strategic goals and objectives
Test your knowledge on financial planning for architectural practices with this quiz. Learn about the importance of strategic goals, revenue forecasts, profit targets, and budgeting in creating a solid financial plan.
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