Independent contractors who provide specialized business services or support from a distance, through different methods of communication are known as:
A. virtual employees.
B. leased employees.
C. time-share employees.
D. job share employees.
Answer: A
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Which of the following does not accurately describe the presentation of software development costs on the statement of cash flows?
A. Reclassifying software development costs undoes the misleading effects for any firm that attempts to improve operating cash flows by lowering the technological feasibility threshold in the current period relative to prior periods. B. The presentation of software development costs is based upon the determination of technological feasibility. C. GAAP contains bright-line criteria for determining technological feasibility which provides an opportunity for management to distort or manipulate results. D. Reclassifying software development costs from the investing to the operating section of the cash flow statement improves interfirm comparability.
A contingent liability is recorded in the accounting records
A) if the contingency has not been described already in the notes to the financial statements. B) if it possibly will become an actual liability and the exact amount is known. C) under no circumstances. D) if it probably will become an actual liability and the amount can be reasonably estimated.
One of the most important contributors to total quality management has been the introduction of statistical tools to analyze the causes of product defects, an approach called
A. six sigma quality. B. concurrent engineering. C. value chain management. D. ISO 9001. E. just-in-time (JIT).
Most corporate bonds have a face value of $1,000, are sold at a discount, and can only be redeemed at the maturity date
Indicate whether the statement is true or false