An Agent's Duty of ________ to the Principal Includes the Agent's

question 117

Multiple Choice

An agent's duty of ________ to the principal includes the agent's obligation to perform the duties as specified in the agency agreement.

• A)cooperation
• B)notification
• C)loyalty
• D)performance
• E)obedience

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Definitions:

Classification

The process of organizing data, objects, or information into categories or groups based on shared characteristics or criteria.

Normal Balance

The side (debit or credit) of an account that is typically increased. For assets and expenses, it's the debit side; for liabilities, equity, and income, it's the credit side.

Office Supplies

Items used in offices for daily operations, such as stationery, paper, and computer supplies.

Accounts Payable

Accounts payable are liabilities of a company that represent its obligations to pay off short-term debts to its creditors or suppliers.