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BUSA 2106 CH 14 Business organizations Exam Questions and Answers 100% Pass £8.78
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BUSA 2106 CH 14 Business organizations Exam Questions and Answers 100% Pass

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  • Module
  • BUSA 2106
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  • BUSA 2106

BUSA 2106 CH 14 Business organizations Exam Questions and Answers 100% Pass implied authority - it arises from the position of authority held by an agent and by the history of actual authority situations Apparent authority - it may arise in a situation where a principal terminates an agent's au...

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  • November 30, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUSA 2106
  • BUSA 2106
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BUSA 2106 CH 14 Business organizations Exam
Questions and Answers 100% Pass


implied authority - ✔✔it arises from the position of authority held by an agent and by the history of

actual authority situations


Apparent authority - ✔✔it may arise in a situation where a principal terminates an agent's authority but

fails to inform third parties about the termination


trading partnership - ✔✔a partner has the implied authority to borrow money in the usual course of

business and pledge the credit of the firm


Nontrading partnership - ✔✔A partner requires actual authority to borrow money in the usual course of

money and pledge the credit of the firm


Non profit organizations - ✔✔___-______ _____________ differ from corporations in that ___-_______ are

exempted from paying tax on income


articles of incorporation - ✔✔the formal application for a corporate charter is called the ________ __

_____________.


Advantages of a corporation - ✔✔Ownership may be divided into many unequal shares, shareholders

may be employees entitled to such benefits as workers' compensation; many investors may be

conveniently brought together


sole proprietorship - ✔✔easiest business organization to create


Factors considered for best organizational form of a business - ✔✔cost of creating the organization;

control of the decisions; continuity of the organization



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