A States to B,"Within the Next Month,I Will Be Placing

question 62

Multiple Choice

A states to B,"Within the next month,I will be placing an order for 100 Model A computers,so please give me your best price." B replies,"I will sell you this model computer for $500 each." A enters into a contract to sell the computers to C for a profit.Three weeks later,B refuses to sell the computers to A.Under the CISG:

• A) B will win because the contract was not in writing.
• B) B will win because of the mirror image rule.
• C) A will win because B's reply was a firm offer.
• D) A will win because B had accepted unconditionally.

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Definitions:

Rent Receivable

An account in the balance sheet that represents the amount of rental payments owed to a property owner but not yet received.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.

Interest Payable

A liability account on a company's balance sheet representing the amount of interest expense that has been incurred but not yet paid.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for a more accurate financial report.