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Use the following information for questions.
Tang Inc.uses the retail inventory method.The following information is available for the current year:
-The approximate cost of the ending inventory by the conventional retail method is
Direct Authority
Authority given to an individual within an organization where they have the power to make decisions and expect those decisions to be followed.
Express Authority
Legal power explicitly granted to an individual or organization to perform certain actions or make decisions.
Apparent Authority
Refers to a situation where a third party reasonably believes an agent has the authority to act on behalf of a principal, even if the agent does not have such authority.
Implied Authority
The power or right assumed to be held by a person in a position of leadership or responsibility, based on the role rather than explicitly stated.
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