An Agent Is Under a Duty to Obey

question 28

Multiple Choice

An agent is under a duty to obey:

• A) all instruction given by the third party.
• B) all lawful instructions given by the principal.
• C) all instructions given by the principal.
• D) none of the above,since "obedience" is not an obligation of the agent.

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Definitions:

Studying Economics

The discipline of learning about how societies use scarce resources to produce valuable commodities and distribute them among different people.

Studying Accounting

The process of learning about and understanding the theories, principles, and practices related to managing and reporting financial information.

Marginal Benefits

The extra advantage gained from a single unit rise in a specific action.

Marginal Costs

The increase in cost resulting from the production of an extra unit of a good or service.