Unlike Most Contracts, Consideration Need Not Be Exchanged to Form

question 8

True/False

Unlike most contracts, consideration need not be exchanged to form an agency relationship.

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Definitions:

Shareholders' Equity

Shareholders' equity represents the residual interest in the assets of a company after deducting liabilities, essentially what is owned by shareholders.

Intangible Assets

Non-physical assets possessed by a business, such as patents, trademarks, and goodwill, which can generate economic benefit.

Cash Flow

The total amount of money being transferred in and out of a business, especially as affecting liquidity.

Assets

Economic resources or owned valuables that an individual, company, or country possesses, which are expected to provide future benefits.