Which of the following statements is true of agency by estoppel?
A) It determines an agent's authority based on customs, circumstances, and the facts of a situation.
B) If a third person is led by a principal to believe that a certain individual is the principal's agent, it grants an agent the authority to act.
C) It is formed when a third party is unaware of the existence of a principal.
D) It occurs when an unauthorized agent commits a principal to an agreement and the principal accepts the unauthorized agreement.
B
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The difference between absorption costing and variable costing is:
A. the treatment of fixed MOH. B. the timing with which fixed MOH is expensed. C. both of the above are differences. D. none of the above are differences.
Michael Reaburn sells homeowners' insurance policies. His father is a developer. His father refers all home buyers in his subdivisions to Michael for insurance. Michael then pays his father a commission which he includes as a cost for the escrow company to collect from the buyers at closing
A)?There is no violation of RESPA. B)?Because the fees involve insurance and not mortgage fees, RESPA does not apply. C)?RESPA applies only to escrow agents and mortgage brokers and lenders. D)?The commission and referral set-up is a violation of RESPA.