REG question confirmation

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    Topic
  • April 8, 2014 at 9:00 pm #184840
    calicpa
    Participant

    Pell is the principal and Astor is the agent in an agency coupled with an interest. In the absence of a contractual provision relating to the duration of the agency, who has the right to terminate the agency before the interest has expired?

    Pell Astor

    Answer would be “Pell No” and “Astor Yes”? Correct?

    WTB has it as “Pell Yes”, “Astor No”, but the explanation directly contradicts the answer.

    BEC - 84, 4/6/13
    AUD - 77, 5/28/13
    REG - 83, 4/12/14
    FAR - 83, 10/3/13

    Ethics - 90% 4/24/13

    150 unit education requirement met!
    Work experience met!

Viewing 6 replies - 1 through 6 (of 6 total)
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  • April 8, 2014 at 10:33 pm #543203
    Anonymous
    Inactive

    Yeah I guess that's a typo. The agent is the only one that can revoke an agency coupled with an interest early. Even if the principal dies, goes insane, or bankrupt it still doesn't terminate the interest.

    April 8, 2014 at 10:33 pm #543233
    Anonymous
    Inactive

    Yeah I guess that's a typo. The agent is the only one that can revoke an agency coupled with an interest early. Even if the principal dies, goes insane, or bankrupt it still doesn't terminate the interest.

    April 9, 2014 at 4:51 pm #543205
    GuitarSalad
    Participant

    I'm so glad you posted this. I think I had the answer backward in my head specifically because of the WTB answer!

    BEC 7/12/13 - 84
    AUD 8/31/13 - 86
    REG 4/11/14 - 84
    FAR 5/30/14 - 88

    Licensed AZ CPA - 10/2014

    April 9, 2014 at 4:51 pm #543235
    GuitarSalad
    Participant

    I'm so glad you posted this. I think I had the answer backward in my head specifically because of the WTB answer!

    BEC 7/12/13 - 84
    AUD 8/31/13 - 86
    REG 4/11/14 - 84
    FAR 5/30/14 - 88

    Licensed AZ CPA - 10/2014

    April 9, 2014 at 9:13 pm #543207
    calicpa
    Participant

    haha yea its ridiculous how many wrong answers there are. just make sure to read the explanation because they are usually correct, but they have the wrong answer marked as correct.

    BEC - 84, 4/6/13
    AUD - 77, 5/28/13
    REG - 83, 4/12/14
    FAR - 83, 10/3/13

    Ethics - 90% 4/24/13

    150 unit education requirement met!
    Work experience met!

    April 9, 2014 at 9:13 pm #543237
    calicpa
    Participant

    haha yea its ridiculous how many wrong answers there are. just make sure to read the explanation because they are usually correct, but they have the wrong answer marked as correct.

    BEC - 84, 4/6/13
    AUD - 77, 5/28/13
    REG - 83, 4/12/14
    FAR - 83, 10/3/13

    Ethics - 90% 4/24/13

    150 unit education requirement met!
    Work experience met!

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Viewing 6 replies - 1 through 6 (of 6 total)
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