Which of the Following Is True of the Duty of Agents

question 53

Multiple Choice

Which of the following is true of the duty of agents to the principal?

• A)The duty not to use or disclose confidential information terminates after the agency ends.
• B)When conducting the principal's business,an agent can deal with himself.
• C)Except for compensation,an agent should not profit from acting on behalf of the principal.
• D)A gratuitous agent does not have the same fiduciary duty as a paid agent.

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Definitions:

Remaining Cash

The amount of money a company has left after all its transactions have been accounted for.

Capital Balances

The amounts shown in a company's capital accounts, reflecting the capital owned by its owners or shareholders.

Liquidation

The process of converting assets into cash or other assets by selling them to pay off creditors or distribute the remaining assets to shareholders.

Deficiency

A shortfall or lack in quantity or quality, potentially referring to aspects such as nutrients, finances, or resources.