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:

Two Points

In finance, two points refer to a one percent change in the face value of a financial instrument like a loan or mortgage, often related to fees or interest rates.

Variable Cost Per Unit

The cost that changes with the level of output or production, expressed on a per unit basis.

Total Fixed Costs

The sum of all costs that remain constant regardless of the level of production or sales volumes.

Volume Levels

Refers to the varying intensities or amounts of sound, production, or activity in a given context.