A(n) ________ Is a Party Who Has Authority to Act

question 14

Multiple Choice

A(n) ________ is a party who has authority to act on behalf of and bind another party.

• A) agent
• B) principal
• C) warrantor
• D) transferor
• E) endorsee

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Definitions:

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.

Merchandising Organisations

Businesses that purchase finished goods for resale, making profits through buying and selling activities without manufacturing.

Intangible Outputs

Outputs or results of a process that cannot be physically touched or measured in traditional ways, often relating to services, experiences, or intellectual property.

Upstream Costs

Expenses incurred in the early stages of production, such as exploration and extraction in the oil and gas industry; they can include costs associated with locating natural resources and preparing them for processing.