Which one of the following statements is TRUE?
A. An agency relationship is when someone hires someone else to perform a service and gives them decision-making authority.
B. An agency relationship is when an agent hires a principal to perform a service.
C. An agency relationship is when a principal works for an agent.
D. In an agency relationship, the agent delegates authority to the principal.
E. An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of directors.
Answer: A
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Which of the following is an economic resource that should be depreciated over the accounting periods estimated to be benefited?
A) salaries incurred but unpaid at year-end B) rent collected in advance for a three-year rental period C) equipment purchased for use in the business operations D) interest revenue accrued on investment in bonds
Import quotas tend to lead to all of the following EXCEPT
a. domestic producers of the imported good being harmed. b. domestic consumers of the imported good being harmed. c. prices increasing in the importing country. d. prices falling in the exporting country.
The ______ describes choosing the moral middle ground between extremes.
Fill in the blank(s) with the appropriate word(s).
Use repetition when you want to ___________________ behind a discussion, especially when details are parallel in their intent
a. describe the history b. examine the impetus c. justify your position d. emphasize the logic