Implied Ratification of an Agent's Unauthorized Acts Can Occur Through

question 64

True/False

Implied ratification of an agent's unauthorized acts can occur through the silence of the principal.

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Definitions:

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing among options.

Alternatives

Different choices or options that are available in a decision-making process.

Adjusted Corporate Tax

This term might involve adjustments made to the corporate tax reported, accounting for various deductions, credits, and exemptions to reach a tax obligation more accurately reflecting the company's financial activity.

Taxable Income

Income subject to taxes, calculated by subtracting deductions and exemptions from gross income.