Which of the Following Forms Should Be Used by a Company

question 49

Multiple Choice

Which of the following forms should be used by a company to report a payment of $1,500 to a computer consultant who is not an employee of the company?

• A)Form 1099-INT
• B)Form W-4
• C)Form W-2
• D)Form 1099-DIV
• E)Form 1099-MISC

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Definitions:

Member Banks

Banks that are part of the Federal Reserve System and are regulated by the Federal Reserve Board.

Mortgage-Backed Securities

Financial instruments secured by a pool of mortgages, which generate income from the mortgage payments.

Creditworthy Borrowers

Individuals or entities deemed capable of repaying a loan based on their financial history and current financial status.

Dodd-Frank Wall Street Reform and Consumer Protection Act

A comprehensive piece of financial reform legislation passed in 2010 in response to the financial crisis, aimed at reducing risk in the U.S. financial system.