An Agent Need Not Disclose the Fact That She Is

question 33

True/False

An agent need not disclose the fact that she is acting for a principal in dealings with a third party,and that contract may still be binding on that third party.

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Definitions:

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that varies directly with the level of production, such as utility costs for machinery.

Particular Product

Refers to a specific item or product line that a company manufactures or sells.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected variable overhead, based on a predetermined rate.

Standard Machine-Hours

A measure of manufacturing time that is expected to be used, based on a standard rate of output per machine.