Which one of the following statements is TRUE? a. An agency relationship is when someone hires...
Which one of the following statements is TRUE?
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a. |
An agency relationship is when someone hires someone else to perform a service and gives them decision-making authority. |
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|
b. |
An agency relationship is when an agent hires a principal to perform a service. |
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c. |
An agency relationship is when a principal works for an agent. |
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|
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. |
Homework Answers
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Which one of the following statements is TRUE?
a.
An agency relationship is when someone hires...
QUESTION 2 Which one of the following statements is TRUE? a. An example of an agency...
QUESTION 2 Which one of the following statements is TRUE? a. An example of an agency cost is when an outside investor is only willing to pay less for stock because she thinks the original owner will consume too many perquisites. b. The commission required by the Federal Housing Agency for a small business loan is an example of an agency cost. c. An example of an agency cost is when an attorney hires an expert witness for a trial....
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 5....
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 5. An agency formed by making a written or oral agreement which clearly defines the scope of the relationship is known as an 6. ( True False) An agency formed by implication through the conduct of the parties is known as an Agency by estoppel 7. (True False) Agency by implied authority can conflict with any express authority. 8. An agency in which an individual...
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 1....
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 1. The relationship between a principal and an agent is generally known as an 2. A person who has a legal to duty to act with trust and confidence for another person's benefit is known as a 3. (True False) Agency relationships can be created only for a lawful purpose and almost anyone can serve as an agent. 4. A document giving an agent authority...
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 9....
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 9. A Power of Attorney (POA) survives a principal's incapacity. 10. When an employer hires someone and exhibits control over the time, place and manner of their performance this type of relationship is created 11. When an employer hires someone to perform a job/project and does not exhibit day-to-day control over their activities this type of relationship is created 12. According to the duty of...
QUESTION 30 Which one of the following statements is TRUE? a. Personal use of the corporate...
QUESTION 30 Which one of the following statements is TRUE? a. Personal use of the corporate jet is an example of a nonpecuniary benefit. b. An agency conflict between inside owners/managers and outside owners occurs when the outside owners sell their shares to someone else. c. An agency problem occurs when an owner/manager sells stock to an outside investor and the owner/manager fears the outside investor will consume too many perquisites. d. A supplier substituting a lower-quality raw material without...
Determine whether the following statement is True or False. The principle-agent relationship exists when one party...
Determine whether the following statement is True or False. The principle-agent relationship exists when one party (the principal) would like another party (the agent) to act in some way, or have some attribute that is in the interest of the principal, and that cannot be enforced or guaranteed in a binding contract.
6. Agency conflicts between managers and shareholders Consider the following scenario and determine whether an agency...
6. Agency conflicts between managers and shareholders Consider the following scenario and determine whether an agency conflict exists: Alexander and Akiko equally own and manage A New Beginning (ANB), a store that sells preowned clothing and furniture. Alexander is responsible for ANB's back-office activities, and Akiko staffs the store and makes deliveries to customers. Both have equal decision- making authority and, under the terms of their partnership agreement, both are prohibited from making personal purchases using company funds without prior...
Which one of the following statements is NOT true? Select one: A. The need for funding does not end when a company goes...
Which one of the following statements is NOT true? Select one: A. The need for funding does not end when a company goes public. B. Approval is obtained from the board of directors to issue securities. C. The lowest-cost source of external funds is often an open offer to the public. D. The investment bank decides how much money the company needs to raise and what type of security - such as debt, ordinary shares or preference shares - to...
QUESTION 20 1 points Save Answer Which of the following statements are true? a. Race has...
QUESTION 20 1 points Save Answer Which of the following statements are true? a. Race has not been found to be a factor in management's decision as where to locate a hazardous waste storage facility. OD Studies have found that an unusually high percentage of hazardous waste storage facilities are located in Black and Latino communities. 0 C. Low income communities have been attractive locations for hazardous waste storage facilities. All of the above are true 0 QUESTION 21 1...
Which one of the following statements is true? Throughput contribution is not increased when non-bottleneck output...
Which one of the following statements is true? Throughput contribution is not increased when non-bottleneck output is increased. a. The elimination of defects always increases productivity. b. Non-bottleneck operations should be refined for high efficiency before starting on bottleneck improvement because non-bottleneck operations are generally easier to correct and improve. С. d. Quality and time are seldom related in service industries. The elimination of defects always decreases revenues. е.
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 5. An agency formed by making a written or oral agreement which clearly defines the scope of the relationship is known as an 6. ( True False) An agency formed by implication through the conduct of the parties is known as an Agency by estoppel 7. (True False) Agency by implied authority can conflict with any express authority. 8. An agency in which an individual...
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 1. The relationship between a principal and an agent is generally known as an 2. A person who has a legal to duty to act with trust and confidence for another person's benefit is known as a 3. (True False) Agency relationships can be created only for a lawful purpose and almost anyone can serve as an agent. 4. A document giving an agent authority...
Business Law II Ch. 33- Agency Formation and Duties Professor Shane J. Egan Name Date 9. A Power of Attorney (POA) survives a principal's incapacity. 10. When an employer hires someone and exhibits control over the time, place and manner of their performance this type of relationship is created 11. When an employer hires someone to perform a job/project and does not exhibit day-to-day control over their activities this type of relationship is created 12. According to the duty of...
6. Agency conflicts between managers and shareholders Consider the following scenario and determine whether an agency conflict exists: Alexander and Akiko equally own and manage A New Beginning (ANB), a store that sells preowned clothing and furniture. Alexander is responsible for ANB's back-office activities, and Akiko staffs the store and makes deliveries to customers. Both have equal decision- making authority and, under the terms of their partnership agreement, both are prohibited from making personal purchases using company funds without prior...
QUESTION 20 1 points Save Answer Which of the following statements are true? a. Race has not been found to be a factor in management's decision as where to locate a hazardous waste storage facility. OD Studies have found that an unusually high percentage of hazardous waste storage facilities are located in Black and Latino communities. 0 C. Low income communities have been attractive locations for hazardous waste storage facilities. All of the above are true 0 QUESTION 21 1...
Which one of the following statements is true? Throughput contribution is not increased when non-bottleneck output is increased. a. The elimination of defects always increases productivity. b. Non-bottleneck operations should be refined for high efficiency before starting on bottleneck improvement because non-bottleneck operations are generally easier to correct and improve. С. d. Quality and time are seldom related in service industries. The elimination of defects always decreases revenues. е.
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