To Successfully Classify a Worker as an Independent Contractor,four Criteria

question 1

Essay

To successfully classify a worker as an independent contractor,four criteria must be satisfied.List and briefly describe the four criteria.

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Definitions:

Permanent Accounts

Accounts that carry their ending balances over to the next accounting period, such as assets, liabilities, and equity accounts.

Service Companies

Businesses that provide intangible products or services to consumers or other businesses.

Vendors Section

A segment within a system or documentation focusing on the details and management of suppliers.

Purchase Orders

Official documents issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.