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Questions and Answers
Which of the following is included in projected income for the design-construction industry?
Which of the following is included in projected income for the design-construction industry?
- Projected expenses for the current year
- Changes in staff salaries
- Actual professional income from the previous year (correct)
- Anticipated expenses for the upcoming year
What should be considered when adjusting projected income for the design-construction industry?
What should be considered when adjusting projected income for the design-construction industry?
- Long-range financial plan
- Current and projected economy (correct)
- Changes in staff requirements
- Historical expenses
How are profits usually estimated in the design-construction industry?
How are profits usually estimated in the design-construction industry?
- As a fixed amount
- In relation to the long-range financial plan
- As a percentage of projected revenues (correct)
- Based on historical expenses
Which of the following is true about financial planning in architectural practice?
Which of the following is true about financial planning in architectural practice?
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What is the starting point for the financial plan in architectural practice?
What is the starting point for the financial plan in architectural practice?
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Why is short-term financial planning usually done for a time period of 12 months in architectural practice?
Why is short-term financial planning usually done for a time period of 12 months in architectural practice?
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