Which one of the following statements is TRUE?
A. An agency relationship is when someone hires someone else to perform a service and gives them decision-making authority.
B. An agency relationship is when an agent hires a principal to perform a service.
C. An agency relationship is when a principal works for an agent.
D. In an agency relationship, the agent delegates authority to the principal.
E. An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of directors.
Answer: A
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Barbara's Boats uses the periodic inventory system and the net method of accounting for purchases. The company had the following transactions during January:January 6: Purchased $10,000 of inventory. The seller's credit terms are 2/10, n/30.January 31: Due to an oversight, the invoice was not paid within the discount period. Full payment was made on January 31.Prepare journal entries to record each of the preceding transactions.
What will be an ideal response?
Which statement is true of the outcome of crowdsourcing when using social media in marketing?
A. The input of many people (rather than of a few experts) is leveraged to make decisions. B. The level of buzz created for a product rightly reflects the product's effectiveness. C. The criteria used for choosing the most suitable method of promoting a product is now an exact science. D. The factors that lead consumers to buy a product are beyond the tools of social media analytics to identify and quantify.
The difference between the observed value of Y and the value predicted by the regression equation is called the ________
A) correlation coefficient B) residual C) standard error D) random error E) total error
Which of the following statements is not true concerning cross-tabulation?
A) No more than three variables can be cross-tabulated. B) As a general rule, there should be at least five expected observations in each cell for the statistics computed to be reliable. C) Cross-tabulation examines association between variables, not causation. D) None of the above statements are untrue.