Edward Is Hired to Manage Fred's Business

question 55

Multiple Choice

Edward is hired to manage Fred's business. Which of the following is untrue regarding Edward's authority?

• A) Edward has authority to sell a used cash register when he buys a new computerized checkout system for the store.
• B) Edward has authority to send bills to customers and to accept payments on behalf of Fred.
• C) Edward can hire employees, but he cannot fire them without Fred's consent.
• D) Edward can enter into contract with wholesalers for merchandise in the store.

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Definitions:

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.

Simple Events

Events that consist of a single outcome or occurrence, making them one of the most basic types of probabilistic events.

Compound Event

A type of event that combines two or more simple events, usually by "and" or "or" operations.

Probability

A measure of the likelihood that a specific event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.