Which of the Following Is True of Tort Liability for Principals

question 5

Multiple Choice

Which of the following is true of tort liability for principals and agents?

• A) A principal is responsible for the tortious conduct of an agent irrespective of the scope of his or her authority.
• B) An agent is fully liable for his or her tortious conduct while on duty for the principal.
• C) An agent is liable for the principal's tortious conduct if he or she participates in it.
• D) An agent and a principal cannot be held responsible for the same tort.

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Definitions:

Sum-Of-The-Years-Digits

A depreciation method that results in a more accelerated write-off of the asset, calculated by adding together the digits of the asset's useful life years.

MACRS Tables

The Modified Accelerated Cost Recovery System tables used in the United States for tax purposes to determine the depreciation of assets over time.

Allowable Depreciation

The allowable tax deduction for the reduction in value of a tangible asset over its useful life, as determined by tax regulations.

MACRS Tables

Depreciation schedules in the Modified Accelerated Cost Recovery System allowing for faster asset depreciation in the earlier years of the asset's life.