Which of the Following Is Not an Example of an Agency

question 23

Multiple Choice

Which of the following is not an example of an agency arrangement where the selling entity would recognise revenue on a net basis?

• A) A retailer selling goods to a customer for $88 and remitting $8 GST to the government.
• B) A travel agent selling a cruise ticket to a customer, charging the customer $2 000 and remitting $1 800 to the cruise liner company.
• C) A licensed hotel selling keno tickets to customers for $5.00 and remitting $4.50 per ticket to the state gaming authority.
• D) A distributor receiving stock from its supplier on a sale-or-return basis. The sales price per unit is $100 and the cost per unit is $60.

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Definitions:

Physical World

Everything that exists naturally, including the land, seas, planets, and stars, as opposed to the digital or imagined worlds.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring.

Social Acceptance

Social Acceptance is the approval and welcoming of an individual or group by the larger society or community, reflecting the extent to which people are accepted or regarded favorably within social contexts.

Gas Mileage

A measure of a vehicle's fuel efficiency, typically expressed in miles per gallon (mpg) or kilometers per liter (km/l), indicating how far a car can travel on a specific amount of fuel.