If a Great Degree of Skill Is Required, This May

question 59

True/False

If a great degree of skill is required, this may indicate that a person is an employee hired for a specialized job and not an independent contractor.

---

Definitions:

Petty Cash

A small fund kept on hand used for minor, miscellaneous expenses of a business.

Misc. Expense

Miscellaneous Expense refers to small, infrequent costs that are not categorized under a specific heading in financial statements.

Misc. Revenue

Miscellaneous revenue refers to income generated from activities not central to a business’s main operations.

Change Fund

Fund made up of various denominations that are used to make change for customers.