What Is the Primary Difference Between an Agent and a Broker

question 130

Multiple Choice

What is the primary difference between an agent and a broker?

• A) An agent gets compensated based on commission while a broker generally charges fees for his services.
• B) A broker works only for a seller whereas an agent can represent a buyer or a seller.
• C) An agent represents a company on a permanent basis while a broker is employed temporarily.
• D) An agent has much more extensive knowledge about the products he deals with than a broker does.
• E) Brokers have long-term relationships with their customers while an agent's relationships are generally short-lived.

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Definitions:

Time-Driven Activity-Based Costing

A costing method that assigns costs to products or services based on the time resources are utilized and the cost of those resources.

Tech Support Department

A division within a company that provides technical assistance and support to customers or internal users of technology products or services.

Capacity Analysis

An assessment process to determine the maximum level of output or production a company can sustain with its current resources.

Time-Driven Activity-Based Costing

A method of costing that assigns costs to products or services based on the time-consuming activities they require, incorporating both variable and fixed costs.