Sue Performs Services for Lynn

question 79

Short Answer

Sue performs services for Lynn. Regarding this arrangement, use the legend provided to classify each statement.
a. Indicates employee status.
b. Indicates independent contractor status.
-Sue was trained by Lynn.

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Definitions:

NSF Checks

Non-Sufficient Funds (NSF) checks are checks that cannot be processed because the drawer's account does not have enough funds.

Bank Service Charges

Fees charged by banks for the use of their services, such as account maintenance fees, transaction fees, and overdraft charges.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement to ensure accuracy and consistency.

NSF Check

A check that cannot be processed due to insufficient funds in the account it's drawn against, resulting in a non-sufficient funds status.