Which of the following is not a breach of an agent's duty of obedience?
a. Entering into an unauthorized contract for which his or her principal is then liable.
b. Committing a tort for which the principal is now liable.
c. Improperly delegating her authority.
d. Not following a principal's instruction to misrepresent the quality of a competitor's goods to a potential customer.
d
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A beggar-thy-neighbor policy is the imposition of
a. free trade to increase domestic productivity. b. trade barriers to increase domestic demand and employment. c. import tariffs to curb domestic inflation. d. revenue tariffs to make products cheaper for domestic consumers.
Goods on consignment should be included in the inventory of
a. the consignor but not the consignee. b. the consignee but not the consignor. c. both the consignor and the consignee. d. neither the consignor nor the consignee.
Which of the following is not one of the four objectives of accounting given by ASOBAT?
a. To make decisions concerning the use of limited resources (including the identification of crucial decision areas) and to determine objectives and goals b. To direct and control an organization’s human and material resources effectively c. To relate the evaluative framework of standards and guidelines to the objectives themselves d. To facilitate social functions and controls
Price changes of variable overhead items are easily controlled by production supervisors
Indicate whether the statement is true or false