BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
An ____ is a natural person, business, or corporation that provides goods or services to another entity under terms specified in a contract or within a verbal agreement
A
Independent contractor
B
employer
C
employee
Explanation: 

Detailed explanation-1: -An independent contractor is a natural person, business or corporation that provides goods or services to another entity under terms specified in a contract or within a verbal agreement. The distinction between independent contractors and employees is not always clear, and continues to evolve.

Detailed explanation-2: -The nature of employment is defined to include educational requirements and quality, where the latter comprises wages, job security and social protection.

Detailed explanation-3: -Self-employment is the state of working for oneself rather than an employer. Tax authorities will generally view a person as self-employed if the person chooses to be recognised as such or if the person is generating income for which a tax return needs to be filed.

Detailed explanation-4: -Independent Contractor Agreement It should set out the terms and conditions relating to the assigned job and other details of the hirer-independent contractor relationship. This arrangement is known as an Independent Contractor Arrangement which will shield all parties from potential violations or legal issues.

Detailed explanation-5: -Another term for an independent contractor is “freelancer.”

There is 1 question to complete.