Examlex
Explain in general terms what the rules are for deciding if a person who does work for a company is an employee or an independent contractor.
Straight-Line Method
A method of calculating depreciation of an asset by evenly spreading the cost over its useful life.
Extraordinary Repairs
Major repairs or expenditures that significantly prolong the useful life of an asset, beyond normal maintenance.
Annual Depreciation
The amount of an asset's cost allocated as an expense each year over its useful life, reflecting wear and tear or obsolescence.
Original Cost
The amount initially paid for an asset, not accounting for depreciation, inflation, or market value adjustments.
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