6 Questions
Which of the following is included in projected income for the design-construction industry?
Actual professional income from the previous year
What should be considered when adjusting projected income for the design-construction industry?
Current and projected economy
How are profits usually estimated in the design-construction industry?
As a percentage of projected revenues
Which of the following is true about financial planning in architectural practice?
Financial planning is based on trends and estimates.
What is the starting point for the financial plan in architectural practice?
Revenue projections
Why is short-term financial planning usually done for a time period of 12 months in architectural practice?
To meet the requirements for annual financial statements
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.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
