All of the Following Except Which One Is a Duty

question 24

Multiple Choice

All of the following except which one is a duty of an agent?

• A) Account for money received on behalf of his principal.
• B) Inform his principal of any information relevant to his agency.
• C) Refrain from competing with his principal.
• D) After the agency is terminated, refrain from using any information gained while an agent.

Understand economic decision-making regarding operation, shutdown, staying in business, or going out of business in the short and long run.

Analyze the impact of economies of scale on production efficiency.

Apply principles of cost analysis to fill in cost and output tables.

Understand the concept of statistical significance and its implications.

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Definitions:

Fractions

Numerical quantities that represent a part of a whole, typically written with a numerator divided by a denominator.

Mixed Numbers

A number consisting of an integer and a fraction, used to represent quantities greater than a whole but less than two wholes.

Lowest Terms

Lowest terms refer to a fraction that has been simplified to its smallest possible integer numerator and denominator.

Fractions

Fractions represent parts of a whole or any number of equal parts, typically written with a numerator and a denominator, separated by a slash.