Dizzy Is Not Edwina's Agent but Enters into a Contract

question 17

Multiple Choice

Dizzy is not Edwina's agent but enters into a contract with Frida on Edwina's behalf.Edwina later contacts Frida to approve the contract.This is

• A)an agency by agreement.
• B)an agency by estoppel.
• C)an agency by ratification.
• D)not the creation of an agency relationship.

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Definitions:

Tax

A financial charge or levy imposed by a government on individuals or entities to fund public services and government spending.

Inefficiency Costs

The costs associated with not utilizing resources in the most productive manner, which can lead to increased operational expenses and reduced profitability.

Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in one of its determinants, such as price or income.

Taxation

Taxation is the process by which governments finance their expenditure by imposing charges on citizens and corporate entities.