Which of the Following Is Correct with Respect to an Agent's

question 106

Multiple Choice

Which of the following is correct with respect to an agent's performance of his duties?

• A)The agent must never compete with the principal.
• B)The agent must never take advantage of the third party.
• C)The principal need not reimburse the agent for any reasonable expenses incurred in the process of performing the agency responsibilities.
• D)When an agent fails to act in the best interest of the principal and is an independent contractor, this is just cause for constructive dismissal.
• E)The agent may profit at the expense of the principal if the agent acquires some previously unknown information.

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Definitions:

Financial Resources

The funds used to acquire the natural and human resources needed to provide products; also called capital.

Primary Funding

Primary Funding refers to the initial capital raised by a business or project from various sources such as equity, debt, or grants to finance its startup and initial operations.