A licensee who is operating in the capacity of a party's designated agent must notify any clients of the existence of the agency relationship in writing.
<h3><u>An agency agreement is what?</u></h3>
In a legal contract known as an agency agreement, the first party, known as the "principal," agrees that the activities of the second party, known as the "agent," bind the principal to later agreements made by the agent as if the principal had made them personally.
In law, the ability of the agent to bind the principal is known as authority. A person may be compelled to pay for purchases made by a close relative using their credit card if they provide their credit card to them, which is an example of implied authority generated by an agreement.
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Answer:
prior to using the <u>Assumed names</u>
Explanation:
An insurance producer must get himself or his organization registered before doing any business of insurance.
For this there are certain rules as related to the names of such business.
There is the requirement to follow the rules and regulations.
If some person does this business not in his name, and uses some other assumed name, that is any kind of "insurance" word is used for example, "Life Insurance Co." then the person is required to take a prior permission from the commissioner.
This is to ensure that the name shall not be registered with some other organization.
Thus, no assumed names to be used, before prior permission is received from the commissioner.
Answer:
Indicating how each receivable is reported on the balance sheet:
(a) Advanced $10,000 to an employee = Other Receivable
(b) Received a promissory note of $34,000 for services performed = Notes Receivable
(c) Sold merchandise on account for $60,000 to a customer = Accounts Receivable
Explanation:
The advance to an employee is reported as Other Receivable, while the credit sale to a customer is reported as an Accounts Receivable. Finally, the promissory note received from a client for services rendered on credit is reported as Notes Receivable. This classification of receivables shows the true nature of the underlying transactions.
Answer:
To forecast sales and schedule production needs Boeing asks its prospective customers what their likely purchase will be in the next five years. This is considered a surveys of buyer's intentions
I am going to say (C) That seems like the most obvious answer to me.
