An agent's ______ is the power to change the principal's legal obligations
a. legal right
b. official power c. authority
d. responsibility e. authorization
c
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The Park Company is affected by the following contingencies at the end of 2016: 1. Expropriation of Park's foreign assets, valued at $3,000,000, appears reasonably possible. 2. Parks' legal counsel has concluded that it is probable that the company will be required to pay damages of $500,000 in a lawsuit. 3. It appears remotely possible that a major customer will be unable to repay Parks on a
note receivable for $100,000. 4. Parks' controller estimates that $250,000 of the company's pledged receivables are likely to be uncollectible, and the lender will require Parks to honor the amounts. What total amount should Parks accrue for loss contingencies in 2016? A) $750,000 B) $850,000 C) $3,500,000 D) $3,850,000
Most direct marketers apply the RFM formula to select customers. Explain this formula and how it is used to select customers
What will be an ideal response?
The Income Summary account is used to:
A. Replace the Retained earnings account in some businesses. B. Adjust and update asset and liability accounts. C. Close the revenue and expense accounts. D. Determine the appropriate dividend amount. E. Replace the income statement under certain circumstances.
Total quality management (TQM) requires all business functions to work together to ensure product quality
Indicate whether the statement is true or false