Which of the Following Is True of Implied Authority

question 16

Multiple Choice

Which of the following is true of implied authority?

• A)It can contradict a principal's express statements.
• B)It exists even when the principal has limited the agent's authority through clear instructions.
• C)It is usually derived from a grant of express authority by the principal.
• D)It exists only if there is a relevant grant of express authority.

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Definitions:

Direct Experience

The knowledge or wisdom gained from personally encountering or undergoing something, as opposed to learning about it from secondary sources.

Risk Seeking

A tendency to engage in behaviors or make decisions that entail known risks in the hope of achieving greater rewards.

Probability Of Loss

The likelihood or chance that an investment will result in a loss rather than a profit.

Positive Outcomes

The beneficial or desirable results achieved following specific actions or processes.