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Maru [420]
3 years ago
15

At an open house the listing agent begins giving advice to a prospective buyer regarding how much to offer for the house, withou

t explaining that she is a representative of the sellers. Which of the following statements is NOT true?
a. the agent is not acting in accordance with her agency status
b. the agent is acting as an undisclosed dual agent
c. the agent has breached fiduciary duties to both parties
d. the agent has not violated any duties, because she is not performing real estate services for the buyers
Business
1 answer:
lukranit [14]3 years ago
5 0

Answer:

d. The agent has not violated any duties, because she is not performing real estate services for the buyers

Explanation:

Here, at the open house, the agent, without proper introduction and without explaining that she represents the seller, started giving advice to a prospective buyer regarding the amount to offer for the house. By offering advice to the buyer and not disclosing who she represents, the agent is now acting as an undisclosed dual agent, also she has breached the loyalty duties to both parties. The agent is also not acting in accordance with her agency status.

Therefore the incorrect option is option D.) The agent has not violated any duties, because she is not performing real estate services for the buyers

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4 0
1 year ago
Suppose that a firm operating in perfectly competitive market sells 200 units of output at a price of $3 each. Which of the foll
miv72 [106K]

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The correct answer is option i.

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A firm is operating in a perfectly competitive market.  

The firm is selling 200 units of output.  

The price of each unit of output is $3.  

In a perfectly competitive market, a single firm faces a horizontal line demand curve. This horizontal line represents demand, price line, average revenue, and marginal revenue.  

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4 0
3 years ago
Journalize the December 31 adjusting entry required if the amount of unearned fees at the end of the year is $12,530. Refer to t
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Answer:

Dr Unearned fees $24,510

Cr Fees earned $24,510

Explanation:

Preparation of the December 31 adjusting entry required

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($37,040-$12,530)

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3 years ago
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