Fact Pattern 32-1AJanet and Julie work at ABC Interiors. Janet is a designer who works with clients of ABC on interior design projects. ABC closely supervises all of its designers, and dictates their work schedules. Julie works part-time in the evenings cleaning the offices.Refer to Fact Pattern 32-1A. Julie is ABC's
A. agent but not employee.
B. employee and agent.
C. employee or independent contractor, depending on whether ABC controls the details of her physical performance.
D. independent contractor.
Answer: C
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Sarno has a capital balance of $42,000 after adjusting the assets to fair market value. Minton contributes $22,000 to receive a 30% interest in the new partnership. The bonus paid by Minton is $2,800
a. True b. False Indicate whether the statement is true or false
Cost minus accumulated depreciation equals ____________________
Fill in the blank(s) with correct word
Identify the accounts that would normally have balances in the credit column of a business's trial balance
A. Assets and revenues. B. Revenues and liabilities. C. Dividends and liabilities. D. Liabilities and expenses. E. Revenues and expenses.
If Clark buys a tomato plant, he owns the tomatoes produced by the plant based on "confusion."
a. True b. False Indicate whether the statement is true or false