Describe the principal-agent relationship with respect to checks
What will be an ideal response?
In a principal-agent relationship, the customer is the principal and the bank is the agent. A principal-agent relationship is created if 1. the deposit is a check that a bank must collect for a customer or 2. the customer writes a check against his or her account. The bank is obligated to follow the customer's order to collect or pay the check. The rights and duties of a bank and a checking account customer are contractual. The signature card and other bank documents signed by the customer form the contract.
You might also like to view...
A report's close should
A) provide hints on what the audience should do so that you don't sound like you're giving orders. B) instruct your audience to contact you about what they should do next. C) make sure your readers understand exactly what's expected of them and when it's expected. D) imply dire consequences if the goals are not achieved. E) minimize the impact of the main points of the message.
Vattes, Inc., manufactures and sells two products: Product I5 and Product U1. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-HoursProduct I5700 7.0 4,900 Product U1200 4.0 800 Total direct labor-hours 5,700 The direct labor rate is $22.00 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per UnitProduct I5$261.60 Product U1$121.60 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:Activity Cost PoolsActivity MeasuresEstimated Overhead
CostExpected Activity???Product I5Product U1TotalLabor-relatedDLHs$268,698 4,9008005,700Machine setupssetups 37,324 300400700Order sizeMHs 633,895 4,9004,8009,700 $939,917 The overhead applied to each unit of Product U1 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.) A. $1,863.60 per unit B. $659.60 per unit C. $1,044.35 per unit D. $1,568.40 per unit
Which sentence contains a writing lapse?
a. Having completed its study, the committee presented a recommendation to the company's president. b. The committee cited three reasons they chose the site. c. The company's president was pleased with the committee's selection. d. The president is eager to move into a new building; construction will begin soon.
She received all ____ on her report card
A) As B) A's