Which of the Following Is True of Dual Agency

question 55

Multiple Choice

Which of the following is true of dual agency?

• A)An undisclosed dual agent is allowed to retain compensations of the transaction provided he or she discontinues the dual agency.
• B)Examples of dual agents are finders and middlemen.
• C)Dual agency is permitted if all parties in the transaction agree to it.
• D)Dual agency is permitted as long the interests of both principals are similar.

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Definitions:

Direct Labor Costs

The compensation provided to employees who are directly engaged in manufacturing goods or delivering services.

Total Overhead

The sum of all indirect costs incurred by a company, including administrative expenses, depreciation, and utilities.

Factory Wages Payable

An account that represents the amount of wages owed to factory workers for work performed that has not yet been paid.

Factory Payroll

The total compensation, including wages, salaries, and benefits, paid to employees working within a manufacturing facility.