Which of the Following Is True About a Durable Power

question 149

Multiple Choice

Which of the following is true about a durable power of attorney?

• A)It is only effective for as long as the principal has contractual capacity.
• B)It remains effective even though the principal is incapacitated.
• C)It is effective even when the agency is based on an oral agreement.
• D)It is only effective if the attorney-in-fact is a licensed attorney.

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Definitions:

Curve Steepness

The rate at which the slope of a curve increases or decreases, often used in economics to describe the sensitivity of one variable to another.

Maximizes Profits

The process or strategy whereby a firm adjusts its production and pricing to achieve the highest possible profit.

Average Total Cost

Average total cost is calculated by dividing the total cost of producing a given output level by the quantity of output, reflecting the average cost per unit of output produced.

Total Profit

The net income a business earns after subtracting all costs, expenses, and taxes from the total revenue.