In General, an Acceptance Occurs When

question 7

Multiple Choice

In general, an acceptance occurs when:

• A) a particular form of words is stated to the offeror.
• B) a particular mode of expression is made to the offeror.
• C) the offeree reserves the right to reject the offer.
• D) a clear expression of the offeree's agreement to be bound by the terms of the offer occurs.

---

Definitions:

Merchandise

Goods bought and sold in the course of business operations.

Periodic Inventory System

An accounting system that records inventory purchases during the accounting period but waits until the end of the period to adjust the inventory balances and record cost of goods sold.

Gross Method

An accounting practice for recording the full invoice amount of a sale without deducting any discounts offered.

Merchandise Return

The process by which a customer returns previously purchased merchandise back to the seller, often due to defects or dissatisfaction.