An Agent's Actual Authority Ends When

question 25

Multiple Choice

An agent's actual authority ends when

• A) the agent cancels the agency contract.
• B) the principal revokes the authority of the agent.
• C) the principal refuses to compensate the agent.
• D) all of these.

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Definitions:

Machinery

Tools, equipment, and devices that perform various tasks in the production process, often indicating the fixed assets used in manufacturing or production.

Equipment

Tangible items purchased for use in the production or supply of goods and services, not intended for sale as part of regular operations.

Depreciated

The reduction in the value of an asset over time, often due to wear and tear or obsolescence.

Tax Purposes

Refers to the reasons or motivations behind actions taken or strategies employed to minimize tax liability or comply with tax laws.