Charlie is a plumber who uses his own tools to work. He is generally hired for specific jobs for short durations. He receives lump sums after completing these jobs. Which of the following statements is true of this scenario?
A) Charlie's physical conduct is controlled by his employer.
B) Charlie is the principal in an agency relationship.
C) Charlie is an independent contractor.
D) Charlie can work for only one employer at a time.
C
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Abby hires a contractor to make repairs on her house. Before the repairs are finished, Abby dies. Her good friend, Clay is appointed executor of Abby's estate. Clay orally promised that if the estate could not pay the repair bill, he would pay it even though he does not live in the house and has no entitlement under Abby's estate. If the contractor's bill does not get paid, who can the contractor
collect from, if anyone? a. The contractor can collect from either the estate or Clay. b. The contractor can collect from the estate only. c. The contractor can collect from Clay only. d. The contractor must collect from the estate first, and then collect any deficiency from Clay.
Three types of patents available under U.S. law are: A)utility, product, design
B)design, packaging, invention. C)design, plant, utility. D)utility, regulatory, common law.
When the exchange rate for the euro changes from $0.90 to $0.85, then holding everything else constant, the euro has depreciated and American wheat sold in Germany becomes more expensive
Indicate whether the statement is true or false
Managerial accounting is generally utilized to provide financial information about all of the following except
A. products. B. business segments. C. corporate headquarters. D. business activities.