As a General Rule,a Person May Do Through an Agent

question 40

True/False

As a general rule,a person may do through an agent whatever business activity he may accomplish personally.

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Definitions:

Sales Return

Goods returned by the customer to the seller after the sale, leading to a reversal of revenue recorded.

Collection

Collection involves the process of gathering or receiving payments, funds, or necessary documents, especially in the context of business receivables or debts.

Perpetual Inventory System

Inventory accounting method where transactions are instantly recorded via computerized point-of-sale systems and enterprise asset management software.

Merchandise

Goods bought and sold by businesses in the course of their trade; often refers specifically to products sold by retail businesses.