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

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Definitions:

Dollar Terms

A financial expression that quantifies the cost, value, or price of something in terms of currency.

Return on Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated as net profit divided by the cost of the investment.

Benefit-cost Ratio

A financial ratio used to assess the economic value of an investment, comparing the benefits received from the investment to the costs associated with it.

Equipment Downtime

The period during which machinery or equipment is not operational due to maintenance, repairs, or malfunctions.