An Action Taken by a Person on Behalf of Another

question 43

Multiple Choice

An action taken by a person on behalf of another is called:

• A) agency.
• B) negotiability.
• C) representative capacity.
• D) identification of principal.

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Definitions:

Net Operating Income

Earnings before interest and taxes, representing the profit generated from normal business operations.

Sales Dollars

The total monetary value of sales transactions made by a business within a specific period.

Break-even

The point at which total revenues equal total costs, resulting in no profit or loss.

Sales Dollars

The total revenue a company generates from sales activities before any expenses are deducted.