__________ Is Available to a Third Person to Whom a Representation

question 41

Multiple Choice

__________ is available to a third person to whom a representation is made and who justifiably relies on the representation.

• A) Delectus personae
• B) Respondeat superior
• C) Culpable negligence
• D) Partnership by estoppel

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Definitions:

Ideal Standard

Ideal standard refers to a benchmark for perfection in manufacturing or service delivery that assumes no inefficiencies or wastage.

Financial Statements

Formal records of the financial activities and position of a business, individual, or other entity.

Standard Costs

Predetermined costs to manufacture a single unit of product, used as a benchmark for measuring the actual costs incurred.

Labor Time

The amount of work time that employees spend on various tasks, often measured to analyze productivity or allocate labor costs.