A(n) ____ Is One Whose Identity Is Known by the Third

question 224

Multiple Choice

A(n) ____ is one whose identity is known by the third party at the time a contract is entered into with an agent.

• A) undisclosed principal
• B) disclosed principal
• C) specific principal
• D) legitimate principal
• E) clear principal

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Definitions:

Excise Tax

A tax directly levied on certain goods, services, and activities such as tobacco, alcohol, and gambling.

Tax Structure

Specifies how a tax depends on the tax base; usually expressed in percentage terms.

Tax Base

The measure or value, such as income or property value, that determines how much tax an individual pays.

Taxation

The process whereby authorities impose financial charges on citizens or corporations to fund government spending and public expenditures.