Which of the Following Is Not a Factor in Determining

question 92

Multiple Choice

Which of the following is not a factor in determining whether an agent is a servant or independent contractor?

• A)level of supervision
• B)whether the agent has his or her own office
• C)whether the agent has a college degree
• D)whether the agent has more than one client
• E)All of the above are not factors.

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Definitions:

Retained Earnings

The portion of net income that is not distributed to shareholders but instead reinvested in the business or used to pay off debt.

Insurance Expense

The cost incurred by an entity to obtain insurance coverage, recognized as an expense over the period the insurance provides coverage.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, used to check the balance of debits and credits.

Fees Earned

Income received from providing services, typically recorded when the service is rendered, not when the payment is received.