A listing agent must reveal material facts to the seller because the agent is a/an:
A. attorney in fact
B. fiduciary
C. guardian
D. receiver
Answer: B. fiduciary
Explanation: Because the broker/client relationship is founded on trust and confidence, it is a fiduciary relationship. An agent's fiduciary duties include disclosure of material facts to the principal. A listing agent must not withhold any information from the seller that might affect his decisions concerning the sale of his property.
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With respect to Financial Statements, managers generate the clearest picture of what is happening within an organization by reviewing ________.
A. Income Statement B. Balance Sheet C. Cash Flow Statement D. all three together E. one at a time
The cash flow statement is an alternative term for the balance sheet
Indicate whether this statement is true or false.