An Agent's Apparent Authority Ends When

question 71

Multiple Choice

An agent's apparent authority ends when:

• A)the principal revokes authority.
• B)the third party receives notice of the termination of agency.
• C)the principal loses capacity or dies.
• D)the agent's actual authority,both express and implied,ends.

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Definitions:

Disclosure Standards

The requirements and guidelines set by regulatory bodies for the information that must be provided by publicly traded companies to protect investors and maintain transparency.

Financial Statements

Reports that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Income Statement

A financial document summarizing a company's revenues, expenses, and profit over a specific period, reflecting its operational performance.

Balance Sheet

A financial statement that displays a company's assets, liabilities, and shareholder equity at a specific point in time.