Which of the Following Is a Duty of a Principal

question 1

Multiple Choice

Which of the following is a duty of a principal to an agent?

• A)duty of loyalty
• B)duty to indemnify for reasonable expenses
• C)duty to provide information
• D)All of these are correct.

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Definitions:

Financial Well-being

A state where an individual has achieved a satisfactory level of financial security and freedom to make choices that allow them to enjoy life.

Short Run

A time period in which at least one input (e.g., plant size, machinery) is fixed and cannot be varied by the firm.

Economic Profit

The divergence between an organization's total turnover and its entire liabilities, including both evident and underlying costs.

Minimum Average Variable Cost

The lowest point at which a company can produce its product with the least average variable costs involved.