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ioda
3 years ago
11

Jeffrey works as an independent contractor for an accounting firm jointly owned and managed by the Matthews brothers. Which of t

he following implications can be drawn from the scenario? Jeffrey will be solely responsible for making payments for his Social Security (FICA). federal income tax, state taxes, and Medicare. The accounting firm will be completely responsible for paying Jeffrey's federal unemployment compensation (FUTA), Medicare, and state taxes. Jeffrey will be protected from unfair labor practices just like an employee under the National Labor Relations Act of 1935 (NLRA) The accounting firm will have to include Jefferey in its dental, medical, pension, and profit- sharing plans.
Business
1 answer:
lions [1.4K]3 years ago
8 0

Answer:

The correct answer is letter "A": Jeffrey will be solely responsible for making payments for his Social Security (FICA).

Explanation:

Independent contractors act like third party services working for an entity to render services for specific jobs. Independent contractors are not employees of the company who hires them for the job which implies the independent contractors are fully responsible for the payment of their own Social Security and Medicare taxes.

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Assume Intervale Railway is considering investing in Pale Co. stock for three months. The investment will represent​ 5% of the v
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No significant interest equity investment

<h3><u>Explanation:</u></h3>

A technique used in accounting by a firm for the purpose of recording the profits that are obtained from its investments made on other company refers to an equity method. This investment is an equity investment. The profits that are obtained for the investments made by a firm is reported by the company to the firm that made the investment.

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4 years ago
Assume that you live in a simple economy in which only three goods are produced and​ traded: cashews,​ pecans, and almonds. supp
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Therefore, the overall price level rose as the average price level increased from $7.50 to $7.58.

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3 years ago
If a country's saving rate increases, then in the long run a. productivity and real GDP per person are both higher. b. productiv
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Answer:

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When productivity increases, the real GDP per capita also increases.

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