An Agency Always Requires

question 9

Multiple Choice

An agency always requires:

• A)Both an agent and principal who are adults.
• B)A written contract.
• C)Consideration on the part of both the principal and the agent.
• D)An identified underlying transaction.
• E)Intent by both the principal and agent to be in the arrangement.

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Definitions:

Tax

Mandatory financial charges or other types of levies imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or as inputs to production.

Tax Revenue

The financial returns that governments earn from taxes.

Tax

An essential monetary obligation or different kind of dues enforced on a taxpayer by a governmental institution for the purpose of funding state expenses and a variety of public outgoings.