Which of the Following Is True Regarding Acceptance

question 51

Multiple Choice

Which of the following is true regarding acceptance?

• A) In the absence of a provision in an offer regarding how acceptance is to be made, acceptance is effective upon dispatch into a mailbox.
• B) Acceptance is never effective until it is received.
• C) An offeror may not by law specify that an offer can be accepted only by facsimile to a stated fax number and that the acceptance is not effective until actually received.
• D) An offeror may revoke an offer so long as the revocation is made before an acceptance is received.

---

Definitions:

Fiscal Year-End

The conclusion of a 12-month accounting period for which an organization plans its financial reports and statements.

Income Tax Return

A document filed with a government body, outlining income, expenses, and other tax-related information to determine tax liability.

Extension

An allowance for additional time granted by the IRS to file tax returns beyond the original due date.

Charitable Contribution

A donation or gift to a qualified organization that is eligible for a tax deduction.