Which of the Following Best Describes a Partially Disclosed Agency

question 64

Multiple Choice

Which of the following best describes a partially disclosed agency?

• A)an agent with multiple principals who do not know each other's identities
• B)a transaction in which the third party does not know the identity of the agent
• C)a transaction in which the third party knows the agent, not the principal
• D)an agent who discloses only the name of his or her principal in a transaction

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Definitions:

Called Bonds

Bonds that an issuer redeems before their maturity date at a specified call price.

Callable Bonds

Bonds that can be redeemed (called) by the issuer prior to their maturity date, typically at a premium above their par value.

Interest Payable

The amount of interest expense that has been incurred but not yet paid by a company, typically related to loans or credit.

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements, which may or may not align with the calendar year.