Amy Writes a Letter to Bill Requesting Him to Deal

question 68

Multiple Choice

Amy writes a letter to Bill requesting him to deal with all employment matters at her business until she returns from a visit to a foreign country. Bill replies and accepts her request. Which of the following types of agency relationships have Amy and Bill established?

• A) agency by implied authority
• B) agency by agreement
• C) agency through ratification
• D) agency by estoppel

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Definitions:

Potential Value

The anticipated or possible benefit, worth, or effectiveness that something might provide.

Program Design

The creation of a structured plan or sequence of actions aimed at achieving specific outcomes or solving particular problems.

CFOs

Chief Financial Officers, senior executives responsible for managing the financial actions of a company.

Hard Numbers

refer to quantitative data or statistics that are concrete and verifiable, often used to support arguments or analysis.