Explain the concepts "agency at will" and "agency coupled with an interest."
What will be an ideal response?
In an agency at will, notwithstanding the agency agreement, either party generally may terminate the agency at any time, since the relationship is based on mutual consent. This gives each party the power to terminate even if there is no contractual right to do so. The doctrine stems from the judicial reluctance to force people to continue personal relationships against their will. An agency coupled with an interest is one exception to the general rule that either party has the power to terminate an agency. It arises when the power is given as a security. Such an agency is irrevocable without the consent of the agent.
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The following set of items describes activities completed by a company in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. An employee in the accounting department records cash receipts from customers and prepares a bank deposit slip
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
The selling concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies
Indicate whether the statement is true or false
The board of directors of Irondale Corporation declared a cash dividend of $2.50 per share on 57,000 shares of common stock on June 14, 2010 . The dividend is to be paid on July 15, 2010, to shareholders of record on July 1, 2010 . The proper entry to be recorded on July 15, 2010, will be:
a. Cash 142,500 Dividends Payable 142,500 b. Dividends Payable 142,500 Cash 142,500 c. Cash 142,500 Dividends 142,500 d. Dividends 142,500 Cash 142,500
In the parametric case of means for two independent samples, the hypotheses take which form?
A) H0:?1 = ?2 H1:?1 ? ?2 B) H0:?12 = ?22 H1:?12 ? ?22 C) H0:? ? 4.0 H1:? > 4.0 D) H0: ?1 = ?2 H1: ?1 ? ?2