Under Which Circumstance Will a Principal Not Be Responsible for the Tort

question 51

Multiple Choice

Under which circumstance will a principal not be responsible for the tort of the agent?

• A) if the agent was violating the instructions of the principal in committing the tort
• B) if the agency agreement between the agent and principal says that the principal will not be responsible for the agent's torts
• C) if the tort was committed outside the scope of the agency arrangement
• D) if the tort is an unintentional tort

Recognize and adjust entries for advanced payments and understand the concept of unearned revenue.

Identify different types of adjusting entries and their impact on financial statements.

Comprehend the consequences of failing to make necessary adjusting entries.

Distinguish between different types of revenues and how they are recognized.

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Definitions:

Federal Employees

Employees of the federal government of a country, often enjoying different rights and benefits than private sector workers.

Strike

A work stoppage caused by the mass refusal of employees to work, typically to protest against terms of employment, working conditions, or other labor issues.

Wisconsin Public Sector

Refers to the portion of Wisconsin's economy that is controlled and operated by government entities, including state and local government jobs and services.

Collective Bargaining

A process where employers and representatives of employees negotiate terms of employment, including wages, hours, and working conditions.