Which of the Following Is NOT True of an Agency

question 15

Multiple Choice

Which of the following is NOT true of an agency relationship:

• A)Both the principal and agent must consent
• B)The principal must control the actions of the agent
• C)It must be a paid relationship
• D)A principal is required in the relationship
• E)An agent is required in the relationship

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Definitions:

Primary State

The initial or foundational level of government authority in a country, often responsible for key areas such as law enforcement and taxation.

Progressive Tax

A rephrased definition: A taxation system where the tax rate escalates as the taxable income or base increases, ensuring those with greater financial resources bear a larger portion of the tax burden.

Diagram

A graphical representation designed to illustrate the structure or workings of an object, system, or concept.

Lines

In a mathematical or economic context, lines represent relationships between variables, often used in graphs to show trends, constraints, or functions.