In the world of work, basically a person may serve as an a . ordinary employee b. agent c. independent contractor d. self-employed person Briefly explain the nature of each, and give one example where each type of service is utilized
a . An ordinary employee is a person hired by an employer and is subject to control by the latter in performing specified work for wages or salary. Most workers are ordinary employees.
b. An agent is a special type of worker who is authorized by the employer (principal) to represent the employer in dealing with third parties. Many salespersons are agents.
c. An independent contractor agrees to perform specified work for an employer, but generally decides how the work is to be done and is responsible to the employer only for the finished product. Craftsmen such as plumbers and electricians who offer their services to others are often independent contractors.
d. A self-employed person typically works alone, but may hire help to produce products, which are later sold to the public. Artists often are self-employed persons.
You might also like to view...
Under the Model Business Corporation Act, a shareholder may ask a court to dissolve a corporation when:
A. a corporation uses assets for public welfare. B. directors are in conflict, their deadlock cannot be broken by shareholders, and the corporation faces ruin. C. creditors are acting unfairly or illegally. D. directors are maintaining registered agents without the approval of the shareholders.
Demonstrating ________ will most likely help a company to achieve its business objectives
A) a large promotional budget plus awards for creative advertising B) good corporate governance and transparency C) brief public communication and limited interaction with the media D) an ability to pull off successful publicity stunts and media events E) synergy and cooperation between public relations and legal staff
The degree of financial leverage formula will not work precisely when the income statement includes which of the following items?
a. Extraordinary items b. Noncontrolling interest c. Equity income d. All of the answers are correct.
Which element below is not one of the types of heuristics mentioned in the textbook?
a. Availability b. Projection c. Representativeness d. Anchoring and adjustment