Tender Requires That the Seller, at a Reasonable Time

question 7

Multiple Choice

Tender requires that the seller, at a reasonable time:

• A) put and hold conforming goods at the buyer's disposition.
• B) give notice to the buyer that the goods are available.
• C) keep the goods available for a reasonable period of time.
• D) all of these.

---

Definitions:

Explicit Costs

Refers to direct monetary expenses businesses incur in their operations, such as wages, rent, and materials.

Normal Profit

Normal profit is the minimum amount of profit needed for a company to remain competitive in the market, covering all its opportunity costs.

Normal Profits

The level of profit that business owners consider satisfactory or "normal", essentially covering both explicit and implicit costs, including a normal rate of return on investment.

Accounting Profits

The total revenue of a business minus the explicit costs; it's the profit figure calculated according to generally accepted accounting principles.