Final answer:
Agency can be classified as general, special, or universal, with the option 'All of the above' encompassing all types of agency relationships that dictate the extent of authority an agent has to act on behalf of a principal.
Step-by-step explanation:
Agency can be classified into the following ways: a) General agency, b) Special agency, c) Universal agency, and d) All of the above. This refers to the different types of agency relationships that can exist where an agent is authorized to act on behalf of a principal.
A general agency grants broad authority to the agent in a wide range of matters; a special agency, also known as a limited agency, grants authority to the agent for a specific task or transaction; and a universal agency grants all-encompassing authority to the agent, allowing them to perform all acts that can be lawfully delegated to a representative.