Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A tour company sells tickets for a special medieval meal for tourists at a local restaurant. The tour company charges $50 to the tourist and

A tour company sells tickets for a special medieval meal for tourists at a local restaurant. The tour company charges $50 to the tourist and remits $40 to the restaurant. The restaurant then provides the food and service and deals with any issues the tourists may have during the meal. The average cost of providing the meal and service is $25 per tourist. Using the agent criteria, is the tour company a principal or an agent? A. The tour company is considered a principal. B. The tour company is considered an agent. C. The tour company is neither principal nor agent. D. The tour company is a principle for the $50 fee and an agent for the $25 cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality Marketing

Authors: David Bowie, Francis Buttle

3rd Edition

1317403495, 9781317403494

More Books

Students also viewed these General Management questions

Question

3. An initial value (anchoring).

Answered: 1 week ago

Question

4. Similarity (representativeness).

Answered: 1 week ago