Which of the Following Is Correct with Respect to the Agency

question 190

Multiple Choice

Which of the following is correct with respect to the agency relationship?

• A) Agents are those who act on behalf of others but are not employees.
• B) The agency relationship must be created by contract.
• C) No agency can be created without the consent of the principal.
• D) For an agency contract to be valid, it must be in writing.
• E) An agency agreement in writing and under seal is called a power of attorney.

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Definitions:

Normally Distributed Curves

Graphical representations of a normal distribution, showing how data points are symmetrically distributed around the mean.

Mean

A statistical measure representing the average value in a set of numbers, calculated by dividing the sum of all values by the number of values.

Median

The middle value in a list of numbers, which divides the dataset into two halves.

Mode

The value that occurs most frequently in a given set of data.