An agent is authorized to act on behalf of a principal in doing business with third parties.
Answer the following statement true (T) or false (F)
True
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If a bank in the economy has excess reserves of $3 million, and required reserves are 10 percent of transactions accounts under the assumptions of the simple multiplier formula, then eventually the money supply will increase by
A. ?$3 million. B. $3 million. C. $10 million. D. $30 million.
The table below gives the probabilities of combinations of religion and political parties in a major U.S. city. Which of the following represents two mutually exclusive events?
a. (A and E). b. (A and G). c. (A and D). d. (A and F). e. All of these are mutually exclusive.
Angela is a new faculty member at a small university. She recently encountered two students cheating on an exam and asked her department chair how she should handle the situation. Her chair told her to use her best judgement, but to see him to discuss how she handled it after she meets with the students. In this situation, Angela has ______.
a. authority to inform b. authority to recommend c. authority to report d. full authority
Indicate whether each of the following statements is true or false.Cost centers tend to be found in the upper levels of a company's organization chart. ______Managers of investment centers are accountable for assets, liabilities, and earnings. ______Responsibility reports are prepared only for the top-level managers of a business because they are responsible for the business as a whole. ______Responsibility reports often show actual and budgeted revenues and expenses and the amounts of any variances. ______Responsibility accounting reports are arranged using the management by exception approach. ______
What will be an ideal response?