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As Business Partners,Peggy and Maria Have a Legal Relationship Where

question 12

Multiple Choice

As business partners,Peggy and Maria have a legal relationship where either one of them is authorized to act for the other and under that person's control.This is called _____.


Definitions:

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage rate.

Net Profit

The actual profit after working expenses not included in the calculation of gross profit have been paid.

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.

Marginal Cost

The escalation in the entire cost linked to the output of an additional unit.

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