Which of the following is true regarding whether an independent contractor is an agent of a principal?

a. An independent contractor is always an agent of the principal.
b. An independent contractor, by definition, is not an agent of the principal.
c. An independent contractor may or may not be an agent generally depending on whether the independent contractor has authority to enter into contracts on behalf of the hiring party.
d. An independent contractor is an agent only if the hiring party is a merchant.


c

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What will be an ideal response?

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A. ?triangular. B. ?rectangular. C. ?bell-shaped. D. ?a series of vertical lines.

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Decker EnterprisesBelow are the simplified current and projected financial statements for Decker Enterprises. All of Decker's assets are operating assets. All of Decker's current liabilities are operating liabilities.       Income statementCurrent

Projected    Salesna          1,500     Costsna          1,080     Profit before taxna             420     Taxes (25%)na             105     Net incomena             315     Dividendsna                95            Balance sheetsCurrentProjected  CurrentProjectedCurrent assets         100             115  Current liabilities          70               81 Net fixed assets     1,200          1,440  Long-term debt        300            360     Common stock        500            500     Retained earnings        430            650 If Decker had a financing surplus, it could remedy the situation by   A. borrowing on its line of credit. B. issuing more common stock. C. reducing its dividend. D. borrowing from its retained earnings E. paying a special dividend

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