Kris Is an Administrative Assistant with Little Financial Corporation,but Has

question 5

Essay

Kris is an administrative assistant with Little Financial Corporation,but has no authority to sign Little Financial checks.Kris orders merchandise from My-T-Fine Retail Company delivered to her home and pays with a Little Financial check,signing "Little Financial Corp.by Kris,admin.assist." My-T-Fine does not know that Kris has no authority to sign the check.Who is liable on the check,and why?

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Definitions:

Cheapest Way

The most cost-effective method to achieve a particular goal or complete a task, minimizing expenditure.

Short-Run Production Function

A mathematical representation of the relationship between input changes and output levels in a production process, considering some inputs as fixed.

Total Cost Function

The total cost function describes the total cost of production as a function of the quantity of output, including both fixed and variable costs.

Variable Factor

In economics, it refers to any input whose quantity can be changed in the short term to affect production levels.