In the United States in 2015,approximately 70% of Total Income,by

question 108

Multiple Choice

In the United States in 2015,approximately 70% of total income,by far the largest share,took the form of:

• A)compensation of employees.
• B)corporate profits.
• C)interest income.
• D)rental income.

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Definitions:

Express Authority

The power granted to an agent or representative explicitly stated by the principal in a written or oral form.

Actual Authority

The express and implied powers given by a principal to an agent for carrying out specific transactions.

Principal

The primary party involved in a transaction or contract, or the amount of money originally invested or loaned, before interest.

Agent

An individual or entity authorized to act on behalf of another (the principal) in legal or business matters.