What Is the Principal's Duty When His Agent Makes Express

question 79

Multiple Choice

What is the principal's duty when his agent makes express or implied authorized expenditure while acting on his behalf?

• A)Duty to compensate
• B)Duty to take care
• C)Duty of accounts
• D)Duty to reimburse

---

Definitions:

Type I Error

The incorrect rejection of a true null hypothesis, also known as a false positive.

Level Of Significance

The probability of rejecting the null hypothesis in a statistical test when it is actually true, often denoted by alpha and used as a threshold for determining the statistical significance of test results.

CHISQ.TEST()

A function used in spreadsheet programs to calculate the p-value of the chi-square distribution to test the independence of two criteria.

Chi-Square Distribution

A statistical distribution used to analyze the statistical significance of the differences between categorical distributions.