Which of the Following Is a Common Characteristic of Agency

question 74

Multiple Choice

Which of the following is a common characteristic of agency by estoppel and agency by ratification?

• A) the law typically favours the principal
• B) the reasonable conclusion of existence of agency
• C) the adoption of a contract after the fact
• D) the lack of the agent's authority to act

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Definitions:

Joint Products

Two or more products that are generated from a common input or production process, where the costs before the split-off point are shared.

Manufacturing Process

The sequence of operations or procedures used to transform raw materials into finished goods or products.

Nonproductive Processing Time

Time during which no productive activity occurs, often due to maintenance, setup, or equipment downtime.

Bottleneck Operation

Process step that limits the overall output of an operation or system due to its lower capacity.