What Classification Is Given to an Individual Who Provides Services

question 7

Multiple Choice

What classification is given to an individual who provides services to another individual or organization according to terms defined in a written contract or within a verbal agreement?

• A)H-1B worker
• B)independent contractor
• C)coemployee
• D)outsourced employee

---

Definitions:

IFRS

International Financial Reporting Standards, a set of accounting rules followed by companies internationally to maintain consistency in financial reporting.

Completed Contract Method

An accounting method that recognizes revenue and expenses of a long-term project only when the project is completed, often used in construction accounting.

Analysts' Earnings Expectations

Forecasted earnings per share (EPS) estimates made by financial analysts for a company's future reporting period.

Investors

Entities or individuals that dedicate resources hoping to achieve financial gains.