When is an agency relationship irrevocable?
A) It is never irrevocable.
B) When the agency is coupled with an interest of the agent in the subject matter
C) When the principal violates his duties to the agent
D) When the agency is gratuitous
B
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Corporate policies designed to attract, train, and evaluate competent employees are considered to be control activities in the COSO framework for internal controls
a. True b. False Indicate whether the statement is true or false
At its present level of operations, a small manufacturing firm has total variable costs equal to 75 percent of sales and total fixed costs equal to 15 percent of sales. Based on variable costing, if sales change by $1.00, income will change by
a. $0.25. b. $0.10. c. $0.75. d. can't be determined from the information given.
Long-term investments are made by the investment center manager for the purpose of? ______.
A. decreasing profits B. increasing interest expense C. decreasing plant assets D. increasing profits
A process cost accounting system is best used by manufacturers of like units of product that are not distinguishable from each other during a continuous production process
Indicate whether the statement is true or false