Chad Has Offered to Take Miles into His Accounting Firm

question 10

Multiple Choice

Chad has offered to take Miles into his accounting firm as a partner upon payment of $5,000 cash.In response,Miles says,"I'll give you $3,000 cash now and I will pay you the remainder in two months after I see whether things are working out as a partnership." In this case:

• A) Miles has made a counteroffer;hence there is no contract.
• B) Miles has rejected the terms of the original offer,but there is still a contract.
• C) Chad is a merchant making a firm offer under Article 2 of the UCC.Hence there is a contract.
• D) any indefinite provisions in the contract between Chad and Miles will be supplied by Article 2 of the UCC.

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Definitions:

Reinforcement

The process of encouraging or establishing a pattern of behavior by offering rewards or positive outcomes.

Punishment

A form of corrective measure aimed at reducing undesired behavior by using negative consequences or removal of positive stimuli.

Delayed Schedule

A situation where planned events or activities occur later than originally planned or intended, often resulting in setbacks or disruptions.

Rewards

Incentives or benefits given to individuals or groups to promote desired behaviors or outcomes.