Simone Offers Tom a Dozen Guitar Lessons for a Certain

question 69

Multiple Choice

Simone offers Tom a dozen guitar lessons for a certain price per lesson but conditions the deal on Tom accepting the offer by April 1. Simone may revoke the offer

• A)before Tom accepts it.
• B)before April 1, whether or not Tom has accepted it.
• C)only after Tom accepts it.
• D)only after April 1.

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Definitions:

Inventory

A company's stock of goods or materials, which are held for the purpose of resale or in the production process.

Loan

A sum of money that is borrowed, which must be paid back with interest.

Cash Flows

The total amount of money being transferred into and out of a business, affecting the organization's liquidity, financial health, and operational capabilities.

Marketable Securities

Financial assets that can be quickly converted into cash at a known price.