Which of the Following Is True of a Principal-Independent Contractor

question 80

Multiple Choice

Which of the following is true of a principal-independent contractor relationship?

• A) Principals are bound by the authorized contracts of their independent contractors.
• B) Independent contractors cannot be authorized by principals.
• C) Independent contractors are employees of the principals.
• D) Principals cannot directly employ independent contractors.

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Definitions:

Finished Product

The final output of a manufacturing process, ready for sale or distribution to the end-user.

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage, indicating the financial health and profitability of a product or service.

Marketing Plan

A comprehensive strategy outlining an organization's advertising and marketing efforts, including target markets, marketing objectives, and initiatives to achieve them.

Ability To Make A Profit

The ability to make a profit reflects a business's capacity to generate more revenue than its expenses through its operations and strategies.