An agency by ratification occurs when the principal ________.
A. accepts an unauthorized act created by an unauthorized agent
B. accepts an authorized act created by an authorized agent
C. creates the appearance of an agency that in actuality does not exist
D. accepts an act carried out under the implied authority of an agent
Answer: A
You might also like to view...
Which of the following control plans will detect discrepancies between the attendance time and job time?
a. approve attendance time data and job time data b. distribute labor costs c. independent paycheck distribution d. use payroll clearing account
Discuss the common reporting characteristics of discontinued operations and extraordinary items in the financial statements
__________ refers to a maximum amount of time beyond which the employee will have unfettered access to their retirement funds, both employee contributions and employer contributions.
A. Golden Parachutes B. Defined Benefit Plan C. Perquisites D. Vesting E. Variable Pay
The stockholders' equity section of a corporation's balance sheet follows: Preferred stock, $25 par value, 6%, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding …………..$125,000Common stock, $5 par value, 50,000 shares authorized, 20,000 shares issued and outstanding.…………………….. 100,000Paid-in capital in excess of par value, Common stock ……… 90,000Retained earnings ………………………………………. 95,000Total stockholders' equity ……………………………….$410,000 (1) Assuming that no dividends are in arrears, compute the book values per preferred share and per common share.(2) Assuming that one year of cumulative preferred dividends is in arrears, compute the book value per common share.
What will be an ideal response?