An Agency Relationship May Not Arise in the Absence of a Contractual

question 21

True/False

An agency relationship may not arise in the absence of a contractual agreement.

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Definitions:

Managers

Individuals in an organization responsible for planning, directing, coordinating, and overseeing the work of others to achieve the organization's goals.

Crowdsourcing

The practice of obtaining information, ideas, input, or funding from a large, typically online, group of people, rather than relying on traditional employees or suppliers.

Decision Process

The sequence of actions and rational considerations undertaken to select an option among available alternatives.

Collection of Experts

A group of individuals with specialized knowledge or skills brought together to tackle specific problems or projects.