An example of a situation that would terminate an agency by operation of law would be
a. a postal strike.
b. nonpayment of the agent.
c. death of the agent.
d. nonrenewal of the agency contract.
C
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For federal income tax purposes, income is allocated between a husband and wife depending on the state of residence.
Answer the following statement true (T) or false (F)
A(n) __________ clause in a loan document provides that any breach by the borrower under any other loan agreement constitutes an event of default
a. attached b. dragnet c. cross-default d. cross collateralization
"Actual cash value" means "historical cost less depreciation."
Indicate whether the statement is true or false
Alvin is using a reconciliation form to balance his checkbook. To find the adjusted bank statement balance, what will he not need to do?
A) subtract unrecorded ATM withdrawals B) subtracted unrecorded debits C) add unrecorded credits D) add unrecorded interest