When the Principal Ratifies the Act of the Unauthorized Person,such

question 21

True/False

When the principal ratifies the act of the unauthorized person,such ratification does not release the unauthorized person from liability,since he or she acted without authority.

Grasp the visual model representation of economy through diagrams.

Assess the impact of unemployment and resource utilization on production possibilities.

Realize the economic implications of producing at various points on or inside the production possibilities frontier.

Comprehend the increasing opportunity cost principle in production.

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Definitions:

Invested Assets

Assets in which funds have been placed with the expectation of generating income or profit.

Investment Centers

Parts of an organization with direct control over investments and revenues, and responsibility for generating profits, often evaluated through return on investment (ROI) measures.

Profit Centers

Sections or branches of a business that are responsible for generating revenue and are evaluated based on their profitability.

Cost Centers

Parts of an organization that do not directly produce revenue but incur costs, for which managers are responsible for controlling expenses.