A sight draft is payable on presentation to the drawee; a time draft allows a delay in payment

Which of the following best defines the law of agency?

A) The selling of another's property by a properly licensed brokerage company B) The rules of law that apply to the responsibilities of a person who acts as agent for another C) The principles that govern one's conduct in business D) The rules and regulations of the state's licensing agency

Total assets less net fixed assets equals ________

A) gross assets B) current assets C) depreciation D) liabilities and equity