The statement that if an agent makes authorized expenditures in the course of working on behalf of the principal, the principal has a duty to reimburse the agent for the amount of money spent. This is known as the duty of subrogation is False. (Option B)
If an agent makes authorized expenditures in the course of working on behalf of the principal, the principal has a duty to reimburse the agent for the amount of money spent, it is known as duty to reimburse. Subrogation enables the insurer to recoup costs (medical payments, repairs, etc.), including the deductible, from the at-fault driver's insurance company, if the accident is not an individual fault. It protects an individual and their insurer from paying for losses that are not the individual’s fault and is common in auto insurance, health insurance and homeowners policies. Hence, the statement is false.
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