The Taxation Department for Department Store Chain Is Likely to Be

question 105

Multiple Choice

The taxation department for department store chain is likely to be classified as a(n)

• A) cost centre.
• B) investment centre.
• C) profit centre.
• D) revenue centre.

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Definitions:

Exclusive Agreement

A contract between two or more parties where one party agrees to buy, sell, or promote only the products or services of the other party.

Reasonable Efforts

A legal standard that requires a party to act with fair, honest, and diligent efforts to fulfill an obligation.

Actual Authority

The specific powers that a principal has expressly given to an agent to make decisions on their behalf.

Agency Relationship

A legal and fiduciary relationship between two parties, where one person (the agent) is authorized to perform acts or make decisions on behalf of another (the principal).