Which of the Following Is True of General Agents

question 6

Multiple Choice

Which of the following is true of general agents?

• A)They can alter the principal's legal relationships with third parties.
• B)They are appointed for business purposes but not personal purposes.
• C)They cannot appoint subagents to carry out the principal's business.
• D)They are also known as independent contractors.
• E)They have authority to act only in a specifically designated instance.

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Definitions:

Budgeting Formulas

Mathematical expressions or rules used to plan and control income and expenditure, aiding in the preparation and implementation of budgets.

Manufacturing Overhead

All manufacturing costs except direct materials and direct labor.

Units

Basic quantifiable measures used to determine or express the amount of a product or service.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity level.