Скачать или смотреть Duties of Agent to Principle & Principle to Agent | Business Law | CPA Exam

In this video we explain the duties of agent to principle and the duties of principle to agent as covered in a business law course and the CPA exam.

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00:00 – Introduction

Overview of agency relationships in business law and CPA exam relevance.

00:45 – Duties of the Agent to the Principal

Loyalty: Acting in the principal’s best interest.

Obedience: Following lawful instructions.

Care: Performing tasks with reasonable skill.

Accounting: Keeping accurate financial records.

Notification: Informing the principal of relevant matters.

03:20 – Examples of Agent Duties

Real-world scenarios illustrating breach of loyalty and failure to notify.

05:10 – Duties of the Principal to the Agent

Compensation: Paying agreed-upon wages.

Reimbursement: Covering expenses incurred during agency.

Indemnification: Protecting agent from liabilities.

Cooperation: Facilitating the agent’s performance.

07:00 – Fiduciary Nature of the Relationship

Emphasis on trust and ethical conduct between agent and principal.

08:15 – CPA Exam Tips

How these duties are tested on the REG section.

Mnemonics and memory aids for exam prep.

09:30 – Wrap-Up

Summary of key points and encouragement to review related agency law topics
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