Which of the Following Is Not Required for a Valid

question 105

Multiple Choice

Which of the following is not required for a valid UCC offer?

• A)Quantity
• B)Payment terms
• C)Subject matter
• D)Both b and c
• E)a, b, and c

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Definitions:

Corporate Profits

The total earnings of a company after subtracting production and operating costs, including taxes and interest.

Taxed Twice

Refers to a situation where the same income or financial transaction is subject to taxation in two different instances or under two different tax jurisdictions.

Equity

Fairness or justice in the way people are treated within the economy, often relating to the distribution of wealth.

Efficiency

The ability to maximize output with a given set of inputs, or to minimize inputs used for producing a given output.