Which, If Any, of the Following Factors Is a Characteristic

question 119

Multiple Choice

Which, if any, of the following factors is a characteristic of independent contractor status?

• A) Services are performed for more than one business.
• B) Receipt of a Form 1099 reporting payments received.
• C) Workplace fringe benefits are not available.
• D) Work-related income and expenses are reported on Schedule C (Form 1040).
• E) All of the above are characteristic of independent contractor status.

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Definitions:

FOB Destination

A shipping term indicating that the seller retains ownership and responsibility for the goods until they are delivered to the buyer's specified location.

Ending Inventory Balance

The total value of all goods available for sale at the end of an accounting period.

Net Realizable Value

The estimated selling price of goods minus the costs of their sale or disposal, utilized in inventory valuation and accounts receivable.

Internal Controls

Systems and procedures implemented by a company to ensure integrity of financial and accounting information, promote accountability, and prevent fraud.