Match the Following: A.A Principal's Obligation to Compensate an Agent for Loss Whenever

question 5

Essay

Match the following:
a.A principal's obligation to compensate an agent for loss whenever the agent makes a payment or incurs an expense while acting on behalf of the principal.b.Holding a person liable as a principal in order to protect third parties who justifiably rely on a reasonable belief that a person is an agent.c.A consensual relationship authorizing one party to act for and on behalf of another party.d.Responsibility of an agent to keep and render to the principal a record of money or other property received or paid out on the principal's behalf.e.The requirement that an agent act with reasonable care and skill in performing the work for which she is employed.f.The formal,written appointment of an agent.g.Person who agrees to do a particular job and who is not subject to the other's control over the manner and means of conducting the work.h.A duty that arises out of a relationship of trust and confidence that is one of utmost loyalty and good faith.i.A form of liability without fault in which the principal is held liable for the agent's unauthorized tort.j.Authority that is either express or implied and that depends upon consent manifested by the principal to the agent.k.A principal of whom a third party has no knowledge,because he has no reason to believe the agent is acting for a principal.l.An irrevocable agency relationship.m.Power arising from words or conduct of the principal which manifests to a third person that the agent has actual authority and upon which the third person justifiably relies.n.A principal that a third party knows exists but does not know who it is;partially disclosed.o.The confirmation or affirmance by one person of a prior unauthorized act that another has done as his agent.
-apparent authority

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Definitions:

Overtime

Additional hours worked beyond the standard working hours, often compensated at a higher pay rate than regular hours.

Rate Variance

Rate Variance is the difference between the standard cost and actual cost paid for something, often analyzed in budgeting to manage financial performance.

Budget Reports

Budget Reports compare the actual financial operations against the planned or budgeted figures to help in financial planning and control.

Monthly

Pertaining to or calculated on the basis of one month.