Which of the Following Statements Regarding Independent Contractors and Employees

question 51

Multiple Choice

Which of the following statements regarding independent contractors and employees is true?

• A)Independent contractors pay Social Security and Medicare tax of 15.3%.
• B)Employees must pay unemployment taxes.
• C)Independent contractors and employees pay the same Social Security and Medicare tax rates.
• D)Independent contractors deduct their business expenses "from AGI."

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Definitions:

Guanine

Guanine is one of the four main nucleobases found in the nucleic acids DNA and RNA, where it forms base pairs with cytosine.

Cytosine

One of the four main bases found in DNA and RNA, a pyrimidine nucleotide that pairs with guanine.

Nucleus

The central and most important part of an atom, containing protons and neutrons, or a membrane-bound organelle in cells containing the genetic material.

Chromosomes

Structures made of DNA and protein found in the nucleus of cells that carry genetic information from one generation to the next.