Some Businesses Can't Start Small,and Therefore

question 22

Multiple Choice

Some businesses can't start small,and therefore:

• A) they must borrow or attract venture capitalists to start at all.
• B) none of these businesses ever get off the ground.
• C) they are no different from any other business.
• D) these businesses are always owned by the government.

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Definitions:

Specific Power

Authority granted to an individual or body to carry out specific actions in a designated context or situation.

Agency Agreement

A legal contract creating a fiduciary relationship which empowers an agent to act on behalf of a principal in transactions.

Apparent Agency

A legal concept where a principal is liable for the acts of their agent, based on the appearance of authority the agent has been given, even if no actual authority was given.

Implied Agency

A form of agency relationship created by actions of the parties involved rather than a written agreement, suggesting one party can act on behalf of another.