Brooke enters into a contract with Max to purchase several electronic goods. Brooke claims to be Jack's agent, even though she is not. Which of the following agency relationships is formed if Jack honors the contract?
A) agency by estoppel
B) agency by ratification
C) agency by implied authority
D) agency by agreement
B
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On a statement of cash flows prepared using the direct method, the FASB requires that cash payments for interest be classified as operating activities
Indicate whether the statement is true or false
Job costs in a service organization end up in the Finished Goods Inventory account when a job is completed
Indicate whether the statement is true or false
Samuel is a manager at XYZ companies. He and the other managers expect their employees to fulfill the requirements of their position. Samuel and the other managers are expecting employees to do what type of role?
a. job role b. task role c. self-interest role d. maintenance role
When completed production is transferred to the finished goods storeroom
a. Finished Goods is debited and Work in Process is credited. b. Work in Process is debited and Materials is credited. c. Materials is debited and Finished Goods is credited d. Cost of Goods Manufactured is debited and Finished Goods is credited