An Individual Who Is Hired for a Specific Period or Task

question 56

True/False

An individual who is hired for a specific period or task is automatically considered an independent contractor under the law.

---

Definitions:

Common Stock

A type of equity ownership in a corporation, representing a claim on part of the company's earnings and assets, with voting rights on corporate matters.

Journal Entry

A record in accounting that represents a transaction in the ledgers.

Transactions

Financial activities involving the exchange of assets, services, or financial instruments between parties.

Transactions

The financial events that affect the financial statements of a business, involving transfers or exchanges of value between two parties.