A ________ is a legal document granting a person the power to make specific decisions for you in the event that you are incapable
A) letter of instruction
B) power of attorney
C) will
D) trust
Answer: B
Business
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When one party (agent) provides a selling service for another party (principal). Amounts collected on behalf of the principal are not revenue of the agent, e.g., when a travel agent sells airline tickets.
(a) contract liability (b) collectibility (c) principal-agent relationship (d) input measures
Business
Which of the following is most likely true of a product in the maturity stage of the product life cycle?
A) Sales are zero, and the company's investment costs mount. B) New competitors enter the market. C) A slowdown occurs in sales growth. D) Sales increase with decreasing competition. E) New distribution channels are acquired.
Business