Salesperson Norman wants to be classified as a qualified real estate agent—the equivalent of holding independent contractor status. All of the following are requirements for him to meet EXCEPT
A) Receive substantially all of his income from the brokerage based on production, not time worked
B) Be free from supervision by his broker and office manager
C) Hold a current real estate license
D) Have a written agreement with his broker stating that he will not be treated as an employee for federal tax purposes
Answer: B) Be free from supervision by his broker and office manager
Business
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Indicate whether the statement is true or false
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A bond is:
A) The equivalent of a charge on its assets B) A debt of the corporation C) An equity interest in the corporation D) Both A and C E) All of the above
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