What Is the Primary Difference Between an Agent and a Broker

question 130

Multiple Choice

What is the primary difference between an agent and a broker?

• A) An agent gets compensated based on commission while a broker generally charges fees for his services.
• B) A broker works only for a seller whereas an agent can represent a buyer or a seller.
• C) An agent represents a company on a permanent basis while a broker is employed temporarily.
• D) An agent has much more extensive knowledge about the products he deals with than a broker does.
• E) Brokers have long-term relationships with their customers while an agent's relationships are generally short-lived.

Calculate turnover ratios and understand their implications on business operations.

Differentiate between various financial statement components and their significance.

Evaluate the ethical considerations in financial decision-making and its impact on stakeholders.

Analyze effects of acquisitions, sales of assets, and financing activities on financial statements.

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Definitions:

Turnover

In a business context, it refers to the rate at which employees leave a workforce and are replaced.

Mindful Meditation

A practice involving focused attention and awareness in the present moment, often used for stress reduction and emotional regulation.

Generativity

The act of contributing to the growth and guidance of younger generations or the community, often through creative, productive, and supportive means.

Self-Absorption

A state of being overly preoccupied with one's own feelings, interests, and well-being, often at the expense of awareness of others' needs and concerns.