Which of the Following Concepts (Or Principles)addresses the Ability of Partners

question 155

Multiple Choice

Which of the following concepts (or principles) addresses the ability of partners to commit other partners and the business to a contract?

• A) Going-concern concept
• B) Cost principle
• C) Mutual agency
• D) Objectivity principle

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Definitions:

Random Sample

A sampling method where each member of a population has an equal chance of being included in the sample, ensuring the sample's representativeness.

Demand Characteristics

Cues in an experimental environment that signal to participants how they are expected to behave, which can influence the results of the experiment.

Illusory Correlation

The occurrence where one perceives connections among variables (commonly individuals, occurrences, or actions) despite the lack of any actual link.

Experimenter Bias

A process where the scientists conducting an experiment influence the outcome due to subjective expectations or preferences.