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You Had a Balance of $696

question 72

Multiple Choice

You had a balance of $696.81 in your checking account. You then wrote checks for $54.61, $49.59, and $482.91.
a. Find the total amount of the checks written.
b. Find the new balance in your checking account.

Definitions:

Implied Authority

Power not explicitly granted to an agent but necessary to carry out the agent's duties effectively.

Expressed Agency

A legal relationship where an agent is explicitly granted the authority by the principal to act on their behalf.

Apparent Agency

The legal doctrine that allows a third party to hold a principal liable for the acts of an agent, where the principal has given the appearance of agency.

Ratification

The process by which someone gives formal consent or approval to something, often a legal or contractual agreement.