Under the Doctrine of Respondeat Superior, an Agent Is Liable

question 67

True/False

Under the doctrine of respondeat superior, an agent is liable for the principal's negligence.

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Definitions:

Revenues

The total income generated by a business from its normal business operations, including sales of goods and services, before any expenses are deducted.

Expenses

Outflows or using up of assets as a part of operations of a business to generate revenue.

Equity

The ownership interest held by shareholders in a corporation, represented by the residual assets minus liabilities.

Liabilities

Financial obligations or debts owed by a company to outside individuals or entities.