Which of the Following Is Synonymous with the Term "Ostensible

question 13

Multiple Choice

Which of the following is synonymous with the term "ostensible authority" with respect to the law of agency?

• A) implicated authority
• B) actual authority
• C) expressed authority
• D) apparent authority

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Definitions:

Straight-line Basis

A method of calculating depreciation and amortization by allocating an equal amount of expense over each period of the asset's useful life.

Taxable Income

Taxable income is the portion of an individual's or a company's income used to determine how much tax they owe to the government in a given tax year.

Net Fixed Assets

The value of a company's property, plant, and equipment minus depreciation, representing long-term investments in physical assets.

Straight-line Basis

A method of calculating depreciation of an asset, which evenly spreads the cost over its useful life.