In the Course and Scope of Employment, Oscar, an Agent

question 35

Multiple Choice

In the course and scope of employment, Oscar, an agent for Processed Food Inc., violates state sanitation regulations by mishandling certain food products distributed by Quality Transport Corporation. In some jurisdictions, liability for the violations could extend to

• A)Processed Food Inc.
• B)Quality Transport Corporation.
• C)the state.
• D)none of the choices.

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Definitions:

Realisation of Profit

The process by which a profit is recognized on the books once a transaction is completed and the revenue can be reliably measured.

External Party

An individual, group, or organization outside of a company that can affect or be affected by the business's activities.

Group

A parent and its subsidiaries.

Deferred Tax Asset

An accounting term referring to a situation where a business has paid more taxes or has higher tax payments upcoming than what is currently due on the financial statements.