How Will a Power of Attorney Operate If It States

question 55

Multiple Choice

How will a power of attorney operate if it states that the occurrence of a specific event will make it operational?

• A) as a variation of a general power of attorney
• B) as a variation of an enduring power of attorney
• C) as a variation of a springing power of attorney
• D) as a variation of a specific power of attorney

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Definitions:

Profit

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Competitive Industry

An industry where no single firm has a large market share and each firm must compete on price, quality, and innovation to attract customers.

Market Price

The existing rate at which a product or service is available for buying or selling within a marketplace.

Demand

Demand is the quantity of a good or service that consumers are willing and able to purchase at various prices within a given time frame, reflecting their desire and purchasing power.