Apparent Authority Is Determined by the Representation of the Agent

question 148

True/False

Apparent authority is determined by the representation of the agent.

---

Definitions:

General Journal

A comprehensive listing of all a company’s financial transactions, recorded in chronological order.

Cash Investment

Placement of funds into a venture or asset with the expectation of generating income or profit.

Cash Account

An account that reflects the amount of cash a company has on hand or in bank accounts, fundamental to the management of cash flows and liquidity.

Debit Balance

A situation where the debit side of an account exceeds the credit side, commonly observed in asset accounts and expense accounts.