Which of the Following Is True

question 6

Multiple Choice

Which of the following is true?

• A) A principal cannot be bound on contracts made by an agent if the principal's identity is not disclosed to the third party.
• B) A principal cannot through ratification be bound on contracts made by an agent.
• C) A principal can be bound on contracts made by an agent even if the principal's identity is not disclosed to the third party.
• D) A principal cannot through ratification be bound on contracts made by an agent, but a principal can be bound on contracts made by an agent even if the principal's identity is not disclosed to the third party.

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Definitions:

Creating Value

The process through which companies develop products, services, or processes that are valuable to customers, thus enhancing the company's profitability and market position.

Benefits

Advantages or positive outcomes that are provided by a product, service, or job, including tangible and intangible elements.

Needs and Wants

Fundamental human requirements (needs) and desires or wishes that are not essential but desired (wants).

Customer Value

The perception of what a product or service is worth to a customer versus the possible alternatives.