Under agency law, which of the following statements best describes ratification?
A. A principal's affirmation of an agent's authorized act.
B. A principal's affirmation of an agent's unauthorized act.
C. A principal's approval in advance of an agent's acts.
D. A principal's disavowal of an agent's unauthorized act.
Answer: B. A principal's affirmation of an agent's unauthorized act.
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The following are stakeholders of a company, except:
A) suppliers of raw materials B) foreign governments for a non-international company C) the media D) contributors to a charity
All of the factors listed below favor the use of probability sampling except (Table 11.5 in the text) ________
A) nonsampling errors are likely to be an important factor B) the nature of the research is conclusive C) the population is heterogeneous with respect to variables of interest D) highly accurate estimates of population characteristics are required