Miranda Offers to Sell Her Motorcycle to Cassandra for $500

question 73

Multiple Choice

Miranda offers to sell her motorcycle to Cassandra for $500 and states 'reply by email'.The offer will be effectively accepted if:

• A)Cassandra immediately telephones Miranda and accepts the offer.
• B)Cassandra writes a letter to Miranda and posts it the following day indicating her acceptance.
• C)Cassandra leaves a note at Miranda's door the following Tuesday indicating her acceptance.
• D)Miranda hears nothing from Cassandra and assumes that Cassandra's silence indicates her acceptance of the terms.

---

Definitions:

Deposit In Transit

Refers to money that has been received and recorded by a business but has not yet been recorded by the bank.

Check Printing Charge

A fee charged by banks or financial institutions for printing and providing checks for an account holder's use.

Note Collected

A financial transaction where a receivable note is received or paid off, often reflecting incoming cash flow from a debtor.

Petty Cash

A small amount of cash on hand used for covering minor expenses.