When an Agent's Breach of Duty Causes Harm to the Principal

question 49

Multiple Choice

When an agent's breach of duty causes harm to the principal:

• A)the principal may deduct the loss from the amount due the agent.
• B)the principal can bring an action in court even if compensation is due.
• C)the principal is not liable to compensate the agent,even if the breach is serious enough.
• D)the principal is liable to show actual damages to avoid having to compensate.

Identify the various tax treatments for different types of assets.

Calculate gain or loss on the sale of an asset, including considerations for depreciation.

Recognize how netting of short-term and long-term gains and losses affects taxable income.

Define specific tax terms and their implications, such as Section 1231, 1245, and 1250 gains.

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Definitions:

Whistle-Blowers

Individuals who expose illegal, unethical, or improper conduct within an organization, often facing significant personal and professional risk.

Job Dissatisfaction

Is the feeling of being unhappy with one’s job. It is a major cause of voluntary turnover.

Affective Commitment

The emotional attachment and involvement an employee feels towards their organization, influencing their willingness to stay and contribute positively.

Genetic Predisposition

The increased likelihood of developing a particular disease or condition based on an individual's genetic makeup.