A(n) ____ Is One Whose Identity Is Unknown by the Third

question 200

Multiple Choice

A(n) ____ is one whose identity is unknown by the third party at the time when a contract is entered into with an agent.

• A) clear principal
• B) disclosed principal
• C) specific principal
• D) legitimate principal
• E) none of the other choices are correct

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Definitions:

Operating Income

This refers to the profit realized from a business's operations, calculated by subtracting operating expenses from gross profit.

Sales Price

The amount that a customer pays to purchase a good or service from a business.

Variable Costs

Expenses that fluctuate with the level of output, including costs such as raw materials and labor.

Fixed Costs

Expenses that do not change with the level of production or sales.