A Mercantile Agent Is an Agent Who

question 28

Multiple Choice

A mercantile agent is an agent who:

• A)is authorised to act on behalf of the principal in commercial matters.
• B)sells the principal's property in the agent's own name.
• C)is authorised to act on behalf of the principal in private matters.
• D)sells the principal's property in the principal's name.

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Definitions:

Common Stock

A type of security that represents ownership in a corporation, granting holders voting rights and a share in the company's profits via dividends.

Accounting Record

Documented evidence of financial transactions, used to track, report, and audit financial movements.

Short-term Speculation

The practice of buying and selling securities, commodities, or other financial instruments with the aim of profiting from price fluctuations over a short period.

Purchase

This term relates to the process of acquiring goods or services in exchange for money, encompassing a wide range of consumer and business transactions.