Which of the following is NOT a true statement regarding the agency relationship?
A. An agent is an agent for the third party contracting with the principal.
B. An agent has the power to bind a principal to a legal contract
C. The acts of an agent are considered acts of the principal
D. Payments to an agent are considered payments to the principal
Answer: A. An agent is an agent for the third party contracting with the principal.
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Which of the following is true regarding the difference between GATT and WTO?
A. The WTO was encouraged to extend its reach to encompass regulations governing foreign direct investment unlike GATT. B. WTO operates on the basis of consensus unlike GATT. C. GATT gives trading partners the right to compensation or, in the last resort, to impose (commensurate) trade sanctions unlike WTO. D. GATT's verdict is binding unlike that of WTO's. E. WTO allows member-countries to block adoption of arbitration reports unlike GATT.
Business ethics is a form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment
Indicate whether the statement is true or false