Which of the Following Statements Best Defines Customary Authority

question 2

Multiple Choice

Which of the following statements best defines customary authority?

• A) It is the authority specifically delegated to an agent by the agreement creating the agency.
• B) It is the authority to do things not specifically listed in a contract so that the purpose of the agency can be fulfilled.
• C) It is the authority to act on behalf of another that arises when such agents ordinarily possess such powers.
• D) It is the authority that an agent is believed to have because of the principal's behavior.

Analyze the impact of management practices and leadership styles across different cultures.

Appreciate the role of cultural diversity in shaping workplace dynamics and team effectiveness.

Recognize the implications of tight and loose cultures on behavior and organizational norms.

Understand the challenges and strategies for intercultural adjustment for expatriates.

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Definitions:

Compounded Semiannually

The calculation of interest where the interest earned over a period is added to the principal, and the process is repeated twice a year.

Gross Debt Service Ratio

A financial ratio that compares an individual's monthly housing costs (including mortgage payments, property taxes, and utilities) to their gross monthly income, used by lenders to assess borrowing capacity.

Gross Monthly Income

The total amount of income earned in a month before taxes and deductions.

Compounded Monthly

Interest or returns on an investment are calculated and added to the principal amount every month.