The first step in the training process is an assessment of what training is needed.

The most difficult form of depreciation to correct is:

a. wear and tear. b. physical depreciation. c. economic obsolescence. d. functional obsolescence.

John has been hired by Bubbaweiser Beer Company to purchase an airplane. He approaches

Sam who has a Cessna for sale. John does not mention that he is making this purchase on behalf of someone else. He negotiates a deal. Two weeks later, Sam learns that John did not negotiate the deal for himself, but was acting as an agent. Bubbaweiser declares bankruptcy and cannot buy the plane. John: A) Can be held liable on the contract because this was a partially disclosed agency. B) Can be held liable on the contract because this was an undisclosed agency. C) Can be held liable on the contract unless he was on a frolic and detour. D) Can be held liable on the contract simply because he is an agent. E) Cannot be held liable on the contract.