Question : The relation of a partner with the firm is that of:
Option 1: a principal
Option 2: an agent
Option 3: both a principal and agent
Option 4: a manager
Answer (1)
25th Jan, 2024
Correct Answer: both a principal and agent
Solution : The relation of a partner with the firm is like a principal and agent. A partner acts as an agent of his/her principal. Hence the correct option is 3.
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