A(n _____ Is Defined as a Person Who Acts in the Name

question 38

Multiple Choice

a(n. _____ is defined as a person who acts in the name of and on behalf of another, having been given and assumed some degree of authority to do so.

• A) grantor
• B) insured
• C) agent
• D) testator
• E) tenant

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Definitions:

Acquisition Date

The exact date on which control of a business is obtained by the acquirer, upon which the acquirer applies acquisition accounting.

Non-controlling Interest

The portion of equity interest in a subsidiary not attributable to the parent company.

Retained Earnings

The portion of net profits not paid out as dividends but retained by the company to be reinvested in its core business or to pay debt.

Profit After Tax

The net income a company remains with after all taxes have been subtracted from its total revenue.