Rosa Sends an Offer to Kellen That Requires Acceptance to Be

question 14

Multiple Choice

Rosa sends an offer to Kellen that requires acceptance to be made by U.S.mail.Kellen accepts in a timely manner,but sends the acceptance by FedEx which delivers the acceptance to Rosa two days faster than the U.S.mail would.Under traditional common law rules,has Kellen accepted Rosa's offer?

• A)No,since the offer specified a particular manner of acceptance that was not used.
• B)Yes,since FedEx was faster than the U.S.mail.
• C)No,since the acceptance was delivered by a private,rather than a public,delivery service.
• D)Yes,since acceptance sent in any form-even if early or delayed-confirms the offer.

Identify the correct journal entries for various types of transactions, including those affecting revenues, expenses, and dividends.

Recognize the function and purpose of major financial statements and their components.

Understand the process and significance of journalizing, posting transactions to the ledger, and preparing a trial balance.

Acknowledge that errors can exist even in a balanced trial balance and understand basic error detection in accounting processes.

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Definitions:

Constitutional Requirements

The mandates or conditions specified in the Constitution that govern how the U.S. government operates and what qualifications individuals must meet to hold certain positions.

Congress

The legislative branch of the United States federal government, consisting of the Senate and the House of Representatives.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory.

Campaign Finance Laws

Regulations and laws governing the funding of political campaigns, including how money can be raised and spent by candidates and parties.