Which of the Following Is True of General Agents

question 6

Multiple Choice

Which of the following is true of general agents?

• A)They can alter the principal's legal relationships with third parties.
• B)They are appointed for business purposes but not personal purposes.
• C)They cannot appoint subagents to carry out the principal's business.
• D)They are also known as independent contractors.
• E)They have authority to act only in a specifically designated instance.

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Definitions:

Direct Labor-Hours

Total time directly invested in the creation of a product or the provision of a service.

Variable Overhead Efficiency Variance

A measure used to evaluate the efficiency of variable overhead resources used in production relative to the standard consumption expected.

Particular Product

A specific good or service offered by a company, distinct from other offerings within its product line.

Labor Efficiency Variance

measures the difference between the actual hours worked to produce goods and the standard hours expected, multiplied by the standard labor rate.