Within the Context of an Organization, the Term Agent Refers

question 17

Multiple Choice

Within the context of an organization, the term agent refers to:

• A)Those engaged by an organization to support its work
• B)Employees of the organization
• C)Clients of the organization
• D)Both a and b are correct

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Definitions:

Agency Relationship

A legal and fiduciary bond between two parties where one, the agent, is authorized to act on behalf and represent the interests of the other, the principal.

Terminated

The condition of being brought to an end or concluded, often referring to contracts, employment, or agreements.

Insolvency

The state of being unable to pay debts as they fall due or having liabilities exceed assets.

Principal

The party that an agent’s authority can bind or act on behalf of.