Asked by Donald Winters on Jun 27, 2024
Verified
Carol,who is doing Mark a favor,is allowed to commingle business and personal funds in her own bank account.
Commingle
To mix or blend funds or assets from different sources, often in a way that makes them indistinguishable.
Personal Funds
Money owned by an individual that is not tied to any business, investment, or other financial obligations, typically used for personal expenses or savings.
- Acquire knowledge about the effects of dishonesty and fraud in the context of agency and employment relationships.
- Investigate the legal ramifications when agents surpass their granted authority within negotiation or representation environments.
Verified Answer
SC
Shyam ChhagJun 27, 2024
Final Answer :
False
Explanation :
Commingling business and personal funds is generally not recommended as it can create accounting and tax issues. It is better to keep separate accounts for business and personal transactions.
Learning Objectives
- Acquire knowledge about the effects of dishonesty and fraud in the context of agency and employment relationships.
- Investigate the legal ramifications when agents surpass their granted authority within negotiation or representation environments.
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