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AICPA每日一练之REG【2016-1-31】

高顿网校2016-01-29 10:06Lynn.yu
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Which of the following is a prerequisite of the creation of an agency relationship?

A. Consideration must be given.

B. The consideration must be in writing.

C. The principal must have capacity.

D. The agent must have capacity.

Answer:C

C is corrent. The requirement is to identify a prerequisite for the creation of an agency relationship. The principal must be able to give legal consent.

A is incorrect because consideration is not required.

B is incorrect because there is no requirement for the consideration to be in writing.

D is incorrect because an agent must merely have sufficient mental and physical ability to carry out the principal’s instructions.

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