What fiduciary duty, if any, exists in an agency relationship?
A. The agent owes a fiduciary duty to third parties he deals for and on behalf of the principal.
B. The principal owes a fiduciary duty to the agent.
C. The agent owes a fiduciary duty to the principal.
D. There is no fiduciary duty in an agency relationship.
Answer: C. The agent owes a fiduciary duty to the principal.
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The following information was obtained from MCB Manufacturing, Inc
Advertising Costs $9,900 Indirect Labor 53,000 CEO's Salary 620,000 Direct Labor 40,000 Indirect Materials Used 7,500 Direct Materials Used 65,000 Factory Utilities 760 Factory Janitorial Costs 1,200 Manufacturing Equipment Depreciation 3,100 Delivery Vehicle Depreciation 1,000 Administrative Wages and Salaries 24,000 Calculate MCB Manufacturing's total product costs. A) $170,560 B) $654,900 C) $105,000 D) $165,500
BestFoods Inc, a well-known producer of breakfast cereals, has decided to hire producers in different countries so that the cereals marketed under their brand are locally produced in the respective countries
This would not only appeal more to consumers who preferred domestically produced goods, but would also create jobs in the host-country enhancing the brand's image further. This is an example of ________. A) management contracting B) franchising C) greenfield venturing D) contract manufacturing E) straight extension