Where Is a Contract Said to Be Formed

question 4

Multiple Choice

Where is a contract said to be formed?

• A) at the place where the parties do business
• B) at the place where the acceptance is dropped into a mail box
• C) at the place when the acceptance becomes effective
• D) at the place where the offer is made
• E) at the place where the offer is revoked

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Definitions:

Sales Collection

The process of receiving payment from customers for goods or services sold, improving cash flow and liquidity.

Operating Expenses

Regular expenses associated with the operation of a business, such as rent, utilities, and payroll, not directly tied to production.

Cost of Sales

The immediate expenses related to the manufacturing of products sold by a business, encompassing costs for materials and labor.

Cash Receipts

Money received by a business during a particular period, including revenues from sales and other transactions.