In the Set of All Past Due Accounts, Let the Event

question 7

Multiple Choice

In the set of all past due accounts, let the event A mean the account is between 31 and 60 days past due and the event B mean the account is that of a new customer. The intersection of A and B is all

• A) new customers.
• B) accounts fewer than 31 or more than 60 days past due.
• C) accounts from new customers and all accounts that are from 31 to 60 days past due.
• D) new customers whose accounts are between 31 and 60 days past due.

---

Definitions:

Agency Relationships

A relationship in which one party (the agent) agrees to act for another party (the principal) in a business transaction.

Ratification

The act of giving formal consent or approval to something, making it officially valid, typically in the context of contracts or agreements.

Agency Relationship

A legal and consensual arrangement where one party, the agent, acts on behalf of another, the principal, in dealings with third parties.

Intent

The purpose or mindset with which an individual acts, significant in both criminal and civil law to determine culpability or liability.