If an Agent Appointed Under a Power of Attorney Acts

question 20

Multiple Choice

If an agent appointed under a power of attorney acts on behalf of a principal after the principal dies but before the agent has been informed of the death, power of attorney legislation in each state provides that:

• A)the agent's act will not bind the principal's estate and any contracts entered into by the agent on the principal's behalf are void.
• B)the agent will be personally liable for any contracts entered into.
• C)the agent's actions will bind the estate of the principal.
• D)any contracts entered into on behalf of the principal by the agent are voidable and may be terminated at the discretion of the executors of the principal's estate.

Identify the role of ethical guidelines and principles in enhancing employee empowerment and fostering an ethical corporate culture.

Understand the process and benefits of systematically setting goals for balancing personal and professional life.

Recognize the significance of writing formal goal statements as a tool for clarifying and achieving objectives.

Understand different types of research designs (e.g., experimental, prospective observational study, and retrospective observational study).

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Definitions:

Variable Cost

Costs that vary in proportion to the level of production or business activity, such as materials and direct labor.

Fixed Costs

Expenses that do not change with the volume of production or sales, such as rent, salaries, and insurance premiums.

Relevant Range

The range of activity within which assumptions made about cost behavior are valid. Beyond this range, fixed and variable cost patterns may change.

Break-even Point

The level of sales or production at which total revenues equal total costs, resulting in neither profit nor loss.