Can a Person Work as an Agent for Two Different

question 39

Multiple Choice

Can a person work as an agent for two different people with conflicting interests?

• A) Yes, under the equal dignities rule.
• B) Yes, provided the agent discloses to both principals that she is representing both persons and the principals agree to the dual relationship.
• C) No, dual agency relationships are per se illegal.
• D) No, this would be power coupled with an interest.

Determine the consequences of changes in consumer income on inferior and normal goods.

Assess the impact of governmental regulations on market equilibrium.

Understand the effect of substitute and complementary goods on market dynamics.

Interpret market data from tables and figures to identify market equilibria.

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Definitions:

Federal Law

Legislation enacted by the federal government of a country, applicable nationwide and overarching state or local laws in certain areas.

Provincial Law

Provincial law refers to legal provisions and regulations enacted by the legislative bodies of provinces or territories, governing matters within their jurisdiction.

IFRS 3

An International Financial Reporting Standard that provides guidance on accounting for business combinations, requiring acquisition-related assets and liabilities to be recorded at fair value.

Business Combinations

Business Combinations are transactions or events through which one company gains control over one or more businesses, and such amalgamations can significantly impact the financial statements of the acquiring company.