According to the law of agency in the civil code, the fiduciary duty of the agent for the buyer is:
a. being a subagent.
b. telling the buyer which escrow company to use.
c. giving the buyer advice about how to hold title.
d. acting with the utmost care, integrity, loyalty and honesty on behalf of the buyer.
Answer: d. acting with the utmost care, integrity, loyalty and honesty on behalf of the buyer.
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Which of the following advantages and/or disadvantages of stock acquisitions relative to asset acquisitions (and subsequent consolidated financial statements) is misstated?
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A flexible budget:
A) is another name for management by exception B) is developed at the end of the period C) is based on the budgeted level of output D) provides favorable operating results