The UCC Provides That a Merchant Is Bound to Keep

question 82

Multiple Choice

The UCC provides that a merchant is bound to keep a written offer open for a stated period but no longer than:

• A) ten days.
• B) two months.
• C) three months.
• D) a reasonable time.

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Definitions:

Diluted Earnings Per Share

A calculation of a company's earnings per share adjusted for the impact of all potential dilutive securities, which could decrease earnings per share.

Basic Earnings Per Share

A measure of a company's profitability on a per-share basis, calculated by dividing net income by the average number of shares outstanding.

Common Shares

Equity securities that represent ownership in a corporation, typically with voting rights and potential dividends.

IFRS

International Financial Reporting Standards, a set of accounting standards that guide companies in preparing financial statements globally.