Which of the Following Is NOT True Regarding an Agency

question 15

Multiple Choice

Which of the following is NOT true regarding an agency relationship?

• A) The most common form of agency relationship is the employer-employee relationship.
• B) An agent may not be in independent contractor.
• C) An agency agreement may be implied.
• D) Agency may be established by estoppel.

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Definitions:

Operational Plans

Detailed, short-term action plans that outline how a strategy will be implemented, including specific tasks, timelines, and resources required.

Functional Plans

Detailed strategies developed for specific departments or functions within an organization, such as marketing or human resources.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost compared to other producers.

Production Possibilities Frontier (PPF)

The Production Possibilities Frontier (PPF) is a curve depicting all maximum output possibilities for two goods, given a set of inputs.