One Who Agrees to Act and Is Authorized to Act

question 19

Short Answer

One who agrees to act and is authorized to act on behalf of another,a principal,to legally bind the principal in particular business transactions with third parties pursuant to an agency relationship is the _______.

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Definitions:

Enter Bills

Entering bills refers to the process of recording invoices received from vendors or suppliers into an accounting system.

Accounts Payable Aging

Accounts payable aging is a report that categorizes a company's payables to suppliers based on the time frame since the invoices were issued.

Customer Aging

Customer aging, similar to accounts payable aging, categorizes outstanding accounts receivable based on the duration the invoices have been outstanding.

Past Due Bills

Bills or invoices that have not been paid by the designated due date, often resulting in late fees or penalties.