Examlex

Solved

Match the Following Descriptions with the Appropriate Terms

question 15

Multiple Choice

Match the following descriptions with the appropriate terms.
-Calibration


Definitions:

Implied Authority

Authority of an agent that is not expressly granted but assumed to be provided due to the nature of the agent's work or position.

Apparent Authority

Refers to a situation where a third party correctly believes that an agent has the power to act on behalf of a principal, even if the agent does not have the actual authority.

Capital Contributed

The amount of money or assets that owners, partners, or shareholders have invested in a company or partnership.

Partnerships

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed.

Related Questions