Which of the Following Is a Requirement of a Valid

question 13

Multiple Choice

Which of the following is a requirement of a valid offer?

• A) It must be unambiguous.
• B) It must be written.
• C) It must follow the mirror-image rule.
• D) It must be unambiguous, and it must be written.
• E) It must be written, and it must follow the mirror-image rule.

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Definitions:

Depreciation Expense

An accounting method of allocating the cost of a tangible asset over its useful life to reflect its decrease in value over time.

GAAP

Stands for Generally Accepted Accounting Principles, which are a common set of accounting standards and procedures that companies must follow when they compile their financial statements.

Accounting Estimate

Approximations or judgments made by management when preparing financial statements, due to uncertainty in determining the exact amounts.

Multiple Periods

Refers to accounting or financial analysis over several time frames, such as quarters or years, to evaluate performance or investments.