Which of the following statements is false regarding the formation of a principal-agent relationship?
A. An agency must have a legal purpose.
B. An agency may be implied in law, even if the principal did not intend to grant authority.
C. The test for agency is objective.
D. Each element of a contract must be present for the relationship to exist.
Answer: D. Each element of a contract must be present for the relationship to exist.
Business
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Dying too soon is an example of
A) a moral hazard B) a speculative risk C) a physical hazard D) a peril"
Business
One-way tabulation can do all of the following, EXCEPT:
a. determine the amount of non-response to individual questions in a questionnaire. b. tabulate responses to one question against those to another question. c. locate mistakes in data entry. d. construct one-way frequency tables. e. profile sample respondents.
Business