The principal owes the agent

a. only the duty of compensation.
b. the duty of obedience.
c. the duty of care.
d. the duties of a fiduciary.

Answer: c. the duty of care.

Business

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Which element of the organizational structure signifies formal authority relationships?

A. Chain of command B. Formalization C. Centralization D. Work specialization E. Span of control

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The advantage to an S corporation is

a. its offering of multiple classes of stock. b. its treatment of shareholders for income taxation purposes. c. its ability to attract an unlimited number of shareholders. d. its ability to have partnerships and corporations invest as shareholders.

Business