Gina buys a piece of pottery from Woodward for her principal, Kelvin. If Woodward knows that Gina is buying the pottery on behalf of someone other than herself but does not know the identity of that person, Kelvin is:
a. an independent contractor working for Gina.
b. an agent for Woodward.
c. an undisclosed principal.
d. a partially disclosed principal.
Answer: d. a partially disclosed principal.
Business
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U. S. Generally Accepted Accounting Principles permits the presentation of plant assets at their fair market value
Indicate whether the statement is true or false
Business
A broker would not be required to maintain trust records in which of the following transactions:
A: A check promptly delivered to escrow; B: A check promptly delivered to seller; C: A check promptly delivered to the seller that was given as the deposit in an offer to purchase containing a contingency clause; D: None of the above.
Business