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Which of these statements are correct?   A contract for service is an independent contractor; the contractor is responsible for filing his/her own taxes.   Emoluments refer to the salary and monetary benefits an individual receives because of being employed.   There is no income that is exempt from PAYE.   Contract of Service is a contract of employment, and the employer is responsible to account and pay all statutory taxes.   a. i, ii and iv   b. and iv   c. i, only   d. i, ii and iii

Which of these statements are correct?   A contract for service is an independent contractor; the contractor is responsible for filing his/her own taxes.   Emoluments refer to the salary and monetary benefits an individual receives because of being employed.   There is no income that is exempt from PAYE.   Contract of Service is a contract of employment, and the employer is responsible to account and pay all statutory taxes.   a. i, ii and iv   b. and iv   c. i, only   d. i, ii and iii

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  1. Which of these statements are correct?

 

  1. A contract for service is an independent contractor; the contractor is responsible for filing his/her own taxes.

 

  1. Emoluments refer to the salary and monetary benefits an individual receives because of being employed.

 

  1. There is no income that is exempt from PAYE.

 

  1. Contract of Service is a contract of employment, and the employer is responsible to account and pay all statutory taxes.

 

a.

i, ii and iv

 

b.

  1. and iv

 

c.

i, only

 

d.

i, ii and iii

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