Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following is not true about an agent'

Which of the following is NOT true about an agent's duties? Question content...

80.2K

Verified Solution

Question

Accounting

Which of the following is NOT true about an agent's duties?

Question content area bottom

Part 1

A.

An agent may keep the principal's money in the agent's personal bank account for safekeeping.

B.

The duty to account (sometimes called the duty of accountability) includes keeping records of all property and money received and expended during the course of the agency.

C.

The agent is liable to the principal for any injuries resulting from a breach of its duty to notify.

D.

A principal has a right to demand an accounting from the agent at any time.

E.

Unless otherwise agreed, an agent owes a duty to maintain an accurate accounting of all transactions undertaken on the principal's behalf.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

ACID/BASE PRACTICE PROBLEMS (a) 3 moles of sodium nitrate are placed in 1 L of water. Calculate...

Chemistry
Q

Why is it dangerous to acquire a lock in an interrupt handler?

Programming
Q

A How many ATP were formed B How many kcal of gross energy were formed...

Biology
Q

diagram below shows a cell during a phase of a type of cell division Use...

Biology
Q

12 22 sure your grapn snows all intercepts and exnidits proper end behavior Then enter...

Basic Math
Q

There is a functional relationship between the price of a small tablet p and weekly...

Statistics
Q

Find two numbers whose sum is 25 and whose product is a maximum.

Calculus
Q

28 Macmillan Learning a Suppose a researcher runs a t test of the difference of...

Calculus
Q

x 16 0

Algebra
Q

Exercise 15-11(Algo) Lessee and lessor; sales-type lease with selling profit [LO15-2,15-3] Eye Deal...

Accounting
Q

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company...

Accounting
Q

eBook Assume that today is December 31, 2019, and that the following information applies to...

Finance