Authority That Is Not Found in the Express or Explicit

question 43

Multiple Choice

Authority that is not found in the express or explicit words of the principal,but that is inferred from the words is known as:

• A) apparent authority.
• B) indirect authority.
• C) delegated authority.
• D) None of these.

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Definitions:

Times Interest Earned Ratio

A financial ratio that measures a company's ability to meet its debt obligations by comparing its earnings before interest and taxes to its interest expenses.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, including the balance sheet, income statement, and cash flow statement.

Bond Issue

The process by which an issuer creates a financial security (bond) that can be purchased by investors, representing a loan made by the investor to the issuer.

Interest Payable

This refers to the amount of interest expense that a company owes to its creditors, which has been incurred but not yet paid.