QUESTION 3 Which of the following is true when a person hires an independent contractor to perform some tasks? The contract creates a principal-agent relationship. The contractor is responsible for the proper performance of the contract. The person hiring the contractor retains the right to control how the independent contractor performance the terms of the contract. The person hiring the contractor is liable for any injuries the contractor causes to third parties. QUESTION 4 Which of the following is a duty a principal has toward the agent? A principal must provide the agent with a record of all monetary transactions. A principal must obey routine instructions from the agent. A principal must keep the agent informed of all financial activities. A principal must reimburse the agent for expenses incurred during the agency