Which of the following is true about a special power of attorney?
A. It is an implied form of power of attorney.
B. It limits the agent's powers to those enumerated in the agreement.
C. It allows the agent to act in any matters on the principal's behalf.
D. It only allows a licensed attorney to act as the attorney-in-fact.
Answer: B
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A project is accepted under the net present value method when
A) the net present value is zero or negative. B) the total amount of cash inflows exceeds the purchase price of the asset. C) the purchase price of the asset is less than the present value of net cash inflows. D) the present value of net cash inflows exceeds a predetermined minimum amount.
Answer the following statements true (T) or false (F)
Leggero Corporation manufactures two styles of lamps — Bedford Lamp and Lowell Lamp. The following per unit data are available:
Total fixed costs are $42,000, and the machine hour capacity is 30,000 hours per year. The Lowell Lamp has the highest contribution margin per unit and also has the highest contribution margin per machine hour, so the company should focus sales on the Lowell Lamp.
The income statement typically provides information about the operating results of business segments
Indicate whether the statement is true or false
The __________ of errors are used to prevent the cancellation of negative and positive errors.
What will be an ideal response?