The Completion of a Computer by First Wireless,Inc

question 100

Multiple Choice

The completion of a computer by First Wireless,Inc.would require a debit to which of the following accounts?

• A)Cost of Goods Sold
• B)Work in Process Inventory
• C)Finished Goods Inventory
• D)Materials Inventory

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Definitions:

Agent's Torts

Wrongful acts committed by an agent or employee that result in liability for the employer or principal.

Undisclosed Principal

A situation in a contract where the agent acts on behalf of a principal whose identity is not revealed to the third party.

Satisfied Judgment

A court decision that has been fully complied with, where all ordered payments or actions have been completed.

Respondeat Superior

A legal doctrine that holds an employer or principal legally responsible for the actions of an employee or agent when performed within the scope of employment or agency.