Which of the Following Is an Example of a Deferral

question 155

Multiple Choice

Which of the following is an example of a deferral?

• A) Income taxes recorded but not yet paid
• B) The purchase of a company vehicle
• C) Legal fees earned but not yet collected
• D) The accumulation of interest in a bank account

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Definitions:

Respondeat Superior

A legal doctrine holding an employer or principal liable for the actions of an employee or agent performed within the course of their employment or agency.

Apparent Agency

A legal doctrine allowing a principal to be held liable for the actions of an agent, based on the appearance of authority given to the agent by the principal.

Principal's Actions

Refers to the deeds or activities undertaken by the principal figure in a contractual or agency relationship, affecting the relationship's legal standing.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.