If a Person Employs an Architect to Design the Layout

question 10

Multiple Choice

If a person employs an architect to design the layout of his or her own home, it would constitute a(n) ________ relationship.

• A) employer-employee
• B) principal-independent contractor
• C) principal-agent
• D) agent-independent contractor

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Definitions:

Due Date

The specified date by which a payment must be made, or a task or assignment must be completed.

Defined Contribution Plan

A pension plan that requires a fixed amount of money to be invested on the employee’s behalf during the employee’s working years.

Annual Pension Benefit

The amount a retiree receives yearly from their pension plan, which is based on factors such as salary history and years of service.

Defined Benefits Plan

A type of pension plan where the benefits that the employee will receive upon retirement are defined in advance.