Examlex
What accounts appear in the equity section of the balance sheet for a college, assuming the college is:
A. Public - government owned
B. Private not-for-profit
C. For Profit - Investor owned business
Express Authority
Power clearly stated or written, given by one party to another.
Agreement Of Partners
A legal document outlining the terms and conditions under which partners agree to operate a partnership.
Actual Authority
The express or implied power given to an agent by the principal, allowing the agent to act on behalf of the principal.
Respondeat Superior
A legal doctrine holding employers liable for the actions of their employees performed within the course of their employment.
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