Fact Pattern 10-1 Berry Indicates That She Is Acting as an Agent on an Agent

question 70

Multiple Choice

Fact Pattern 10-1
Berry indicates that she is acting as an agent on behalf of an unidentified client-Cuisine Catering, LLC-when she enters into a contract with Désean.
-Refer to Fact Pattern 10-1.Cuisine Catering is​

• A) ​a disclosed principal.
• B) ​an apparent agent.
• C) ​an undisclosed principal.
• D) ​a partially disclosed principal.

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Definitions:

Physical Count

The process of manually counting the actual inventory on hand at a particular time to verify the quantities listed in accounting records.

Job Order Cost System

An accounting system that tracks costs individually for each job, rather than using a standard method for all jobs, suitable for companies producing unique or custom products.

Equivalent Units

a concept used in cost accounting to indicate a standard amount of work done on incomplete or partially manufactured units.

Conversion Costs

Costs incurred to convert raw materials into finished products, typically including direct labor and manufacturing overhead.