Which of the Following Is Not Acting as an Agent

question 9

Multiple Choice

Which of the following is not acting as an agent in the eyes of the law?

• A) The cashier at London Drugs
• B) An editor for the Gazette who writes some of the articles and proofreads the final draft of the paper
• C) The paperboy who sells subscriptions for the Globe and Mail
• D) A real estate salesman working for A.E. LePage
• E) A computer programmer hired by a real estate agency to help computerize the office by buying appropriate software and hardware for the company and adapting the programs to fit the agency's needs

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Definitions:

Retained Earnings

The portion of a company's profits not distributed to shareholders as dividends but kept for reinvestment in the business or to pay off debt.

Bargain Purchase

A situation where an entity acquires another entity's assets for less than their fair market value, often leading to a gain in the acquirer's financial statement.

Investment Account

An account held at a financial institution that is used for the purpose of investing in securities such as stocks, bonds, and mutual funds.

Liabilities

Liabilities are the economic debts or responsibilities that a business has to other entities, which are to be fulfilled over time by transferring economic resources.