Khe Says, "I Plan to Sell My Apple Stock

question 61

Multiple Choice

Khe says, "I plan to sell my Apple stock." This is not an offer because

• A)the statement is not addressed to a specific offeree.
• B)the offeror has only committed to negotiate the terms in good faith.
• C)a statement of future intent to do something in the future is not an offer.
• D)an expression of opinion does not indicate an intent to enter into a deal.

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Definitions:

Factory Overhead

All indirect costs associated with manufacturing, encompassing the expenses incurred in the process of producing goods besides direct materials and direct labor.

Work In Process

Inventory that is in the production process but not yet completed; reflects goods that are being manufactured but aren't finished products.

Average Costing

An inventory costing method where goods are priced based on the average cost of all similar items in inventory, suitable for homogeneous products.

FIFO

An acronym for "First In, First Out," a method used in inventory management and accounting where the oldest inventory items are recorded as sold first.