An Agency Will Be Terminated in All but Which One

question 8

Multiple Choice

An agency will be terminated in all but which one of the following situations?

• A)The principal and agent agree on an agency relationship to sell a boat,and the boat is sold.
• B)A travel agent files for individual bankruptcy under Chapter 13.
• C)The agent violates his duty of loyalty.
• D)An electrician,an agent of a contractor,has her license revoked.

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Definitions:

Period Cost

Costs unrelated to the direct production process, recognized as expenses in the period they happen, encompassing sales, general, and administrative expenditures.

Plant Manager

A professional who oversees all operations of a manufacturing facility, including personnel, production processes, and budget management.

Salary

A fixed regular payment, typically expressed as an annual amount, made by an employer to an employee, especially a professional or white-collar worker.

Product Cost

The total expense incurred to produce a product, including costs directly tied to manufacturing such as raw materials and labor, differentiated by highlighting its importance in pricing and profitability analysis.