Miranda Offers to Sell Her Motorcycle to Cassandra and States

question 13

Multiple Choice

Miranda offers to sell her motorcycle to Cassandra and states 'reply by email'.The offer will be effectively accepted if:

• A)Cassandra immediately telephones Miranda and accepts the offer.
• B)Cassandra writes a letter to Miranda and posts it the following day indicating her acceptance.
• C)Cassandra leaves a note at Miranda's door the following Tuesday indicating her acceptance.
• D)Miranda hears nothing from Cassandra and assumes that Cassandra's silence indicates her acceptance of the terms.

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Definitions:

Interest Income

Earnings received from various types of investments like savings accounts, CDs, and bonds.

Acctrecv.

Short for "accounts receivable," this term denotes money owed to a company by its customers for goods or services delivered but not yet paid for.

Mortgage

A loan secured by the collateral of specified real estate property that the borrower is obliged to pay back with a predetermined set of payments.

Holding Periods

The length of time an investment is held before being sold, affecting the tax treatment of any gains or losses.