Examlex
Match each of the following terms with its corresponding definition.
-The name of the identifier of each entity is underlined on an E-R diagram.
Duty of Accounting
The obligation of a party (usually a fiduciary) to keep accurate records and report financial activity to relevant stakeholders or authorities.
Agent Owe
The duty or obligation an agent has to act in the best interest of the principal, including loyalty, care, and full disclosure.
Principal
In finance, the principal is the initial amount of a loan or the amount of an investment excluding any interest or profit earned.
Agency by Ratification
An arrangement where a principal formally approves an act performed by someone who did not have the authority to act as their agent at the time of the act.
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