Which of the Following Descriptions Best Fits the Term "Receipt

question 7

Multiple Choice

Which of the following descriptions best fits the term "receipt"?

• A) It is the acknowledgement of a purchase order by the seller.
• B) It is the acknowledgement of an industry standard by the buyer and seller.
• C) It is taking possession of the purchased goods by the buyer.
• D) It is the assent of the seller to provide specific goods.

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Definitions:

Revoke Acceptance

The act of legally rejecting a previously accepted offer or product due to defects or contract breaches.

Partial Acceptances

In business and contract law, the agreeing to or approval of a portion of a proposal or offer, rather than the whole.

Nonconforming

Items or actions that fail to meet specified standards, regulations, or expected norms.

Impracticable

Not feasible or possible to implement or carry out under the current circumstances or conditions.