Which of the following statements is true of the duty of reimbursement and indemnification?
A) It bars agents from claiming expenses arising out of negligence or unlawful activities.
B) It requires a principal to compensate an agent for services rendered even in the absence of a written agreement.
C) It mandates that a principal should pay a contingency fee to an agent upon conclusion of the business transaction.
D) It forbids a principal from interfering with the reasonable conduct of an agent as agreed upon in a contract.
A
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Stockholders invested $20,000 cash in a business for common stock. The journal entry to record this transaction would include
A. A debit to Cash and a credit to Retained Earnings B. A debit to Cash and a credit to Investment Income C. A debit to Service Revenue and a credit to Cash D. A debit to Cash and a credit to Common Stock
Which of the following refers to the range of research for a report?
A) Purpose B) Scope C) Evaluation D) Complexity E) Benefits