The Term Apparent Authority Is Used When There Is: ______

question 9

Multiple Choice

The term apparent authority is used when there is: ______.

• A) no interaction between the principal and third persons.
• B) actual authority.
• C) only the appearance of authority and that appearance of authority was created by the principal.
• D) only the appearance of authority and that appearance of authority was created by the agent.

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Definitions:

Excess Burden

The cost to society created by market inefficiency, which can occur through such things as government intervention in the market or taxes that distort market outcomes.

Tax Revenue

The money collected by a government from its citizens and businesses through various forms of taxation.

Property Tax

A levy on property that the owner is required to pay, often based on the value of the property.

Excess Burden

The cost to society created by market inefficiency, often associated with government policies like taxes or subsidies.