The Ad in the Real Estate Weekly Read: "Best Offer

question 8

Multiple Choice

The ad in the Real Estate Weekly read: "Best offer in Toronto! 3-bedroom home in the Annex for only $700,000!" This is an example of which of the following?

• A) Invitation to treat
• B) Legal offer
• C) Gratuitous promise
• D) Bilateral contract
• E) Unilateral contract

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Definitions:

Year 2

Refers to the second year of a specific time frame, project, or financial period.

Variable Costing

A costing method that includes only variable manufacturing costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of a product, excluding fixed manufacturing overhead.

Unit Product Cost

The total cost (variable and fixed) associated with producing one unit of a product.

Year 2

A fictional or unspecified second year in a sequence or period being referred to, often relative to a specific context or event.