Which of the Following Statements Is True with Regard to an Agent's

question 69

Multiple Choice

Which of the following statements is true with regard to an agent's duties?

• A) A real-estate agent may buy property from a third party if it is at a good price and then sell the property to his principal at a higher price.
• B) An agent is not entitled to the agreed-upon commission and reasonable expenses undertaken on behalf of his principal in carrying out his duties.
• C) An agent cannot act for two principals even with the knowledge and consent of those principals.
• D) An agent must always scrupulously account for moneys coming into his hands on behalf of his principal.
• E) An agent need not disclose all relevant information to the principal.

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Definitions:

Postprocedural Cardiogenic Shock

A life-threatening condition that occurs after a medical or surgical procedure, characterized by the heart's inability to pump sufficient blood.

Fixed Costs

Operating expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Short Run

This term refers to a timeframe in economic analysis where at least one factor of production is considered fixed, distinguishing short-term operational decisions from long-term planning.

Variable Costs

Costs that vary directly with the level of production or output, such as materials and labor, differing from fixed costs which remain constant regardless of output.