Which of the following statements best defines customary authority??
A) It is the authority specifically delegated to an agent by the agreement creating the agency
B) It is the authority to act on behalf of another that arises when such agents ordinarily possess such powers.
C) It is the authority to do things not specifically listed in a contract so that the purpose of the agency can be fulfilled.
D) It is the authority that an agent is believed to have because of the principal's behavior.
B
You might also like to view...
Which two tactics for influencing others are opposite from each other? One is demanding that someone carry out a task, and the other is promising a reward to persuade another person to carry out the task.
What will be an ideal response?
You should define the scope of the topic during the opening so the audience does not ask unnecessary questions
Indicate whether the statement is true or false
Required information for preparing a ________ budget includes types and capabilities of machines and availability of materials.
A. cost B. sales C. cash D. capital E. production
Lister Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (3,000 units)$90,000Variable expenses 58,500Contribution margin 31,500Fixed expenses 21,000Net operating income$10,500 If sales increase to 3,040 units, the increase in net operating income would be closest to:
A. $1,200.00 B. $140.00 C. $780.00 D. $420.00