On March 1, Tammy, a Student, Received a Telephone Call

question 29

Multiple Choice

On March 1, Tammy, a student, received a telephone call from Watterson, Inc. offering her a job for one year beginning on June 15, after completion of the school year. According to the personnel manager, she will have to move to California and be ready to start work at 8:00 a.m. on June 15. Should Tammy ask for a letter confirming the telephone conversation if she accepts the offer immediately?

• A) Yes, because the job offer is a collateral promise.
• B) Yes, because the job offer is covered by the parol evidence rule.
• C) Yes, because the job offer is for longer than one year from March 1.
• D) No, because the job offer is for one year from June 15.

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Definitions:

Sales

The total revenue generated from goods or services sold by a company during a specific period.

Percent Change

A mathematical calculation that shows how much a quantity has increased or decreased as a percentage of its previous value.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of financial transactions.

Transaction Posted

The act of recording a financial transaction in the accounting records of a company.