All of the following statements about the rules governing agency relationships are true EXCEPT
A) An agent must be authorized to act on behalf of a principal.
B) An agency agreement may grant certain powers to the agent as well as denying the agent other powers.
C) The principal is responsible for the acts of agents only if the acts are criminal.
D) Knowledge of the agent is presumed to be knowledge of the principal with respect to matters within the scope of the agency relationship.
Answer: C
You might also like to view...
A car loan is an example of a closed-end credit transaction
a. True b. False Indicate whether the statement is true or false
The chapter of the Bankruptcy Act that permits reorganization is Chapter ____________________
Fill in the blank(s) with correct word
Answer the following statement(s) true (T) or false (F)
1. The three levels of change covered in this Chapter are the individual, the group, and the total system 2. The assumption that changes at the individual level are designed and implemented to help the organization move in a new direction is critical to understanding how organization change works. 3. For Citicorp in early 1977, they focused on the bottom line as the corporation continued to grow instead of focusing on the “people problems” that has developed, resulting in a high rate of employee turnover. 4. Coaching for skills focuses on tasks that a person has to accomplish and the competencies required. 5. The primary work group means that this group manages the most important subgroup in the company.
A firm that properly manages cultural diversity can develop cost advantages over firms that do not manage diversity well.
Answer the following statement true (T) or false (F)