After a Buyer Has Made an Offer on a Piece

question 3

Multiple Choice

After a buyer has made an offer on a piece of real estate, the seller may do which of the following?

• A) Accept the offer
• B) Reject the offer
• C) Make a counteroffer
• D) All of these choices are correct.

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Definitions:

Deposits In Transit

Funds that have been received and recorded by a business but not yet processed by the bank.

Outstanding Checks

Checks that have been written and recorded in a check register but have not yet been cleared or cashed by the bank.

Service Charges

Fees charged by service providers for the services they offer, which can include monthly fees, transaction fees, or specific service-related fees.

Reconcile Window

A feature in accounting software that helps in comparing internal financial records with bank statements to ensure accuracy.