CPA Reg Quiz
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BUSINESS LAW
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Which of the following correctly describes the duty of care owed by an agent to the principal?
A
An agent owes the principal the highest possible standard of care in all circumstances.
B
An agent must act with the care and skill reasonably expected of a person in that position, and a professional agent must use the care and skill of a reasonably competent professional in their field.
C
An agent is strictly liable for any harm caused to the principal, regardless of fault.
D
An agent owes no duty of care to the principal because the agency relationship is based on trust, not legal obligation.
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