Which of the Following Statements Best Reflects the Postal Rule

question 1

Multiple Choice

Which of the following statements best reflects the postal rule?

• A) Offers, revocation of offers, and acceptances made by post are deemed to have been made when posted.
• B) A contract is made when acceptance is made by post, unless the postal rule is excluded by the terms of the offer or where postal acceptance was not within the contemplation of the parties.
• C) Offers and acceptance made by post are deemed to have been made when received by the offeror.
• D) A contract is made when acceptance is made by post.

Appreciate the complexity of human sexual behavior through a multidisciplinary perspective.

Understand and calculate the weighted average delay in collections for different customer profiles and settings.

Analyze the financial impact and suitability of lockbox services for accelerating collections.

Determine the average amount of disbursement float for a firm based on check writing and clearing times.

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Definitions:

Temporary Differences

Differences between the carrying amount of an asset or liability in the statement of financial position and the asset’s or liability’s tax base.

Carrying Amounts

The value at which an asset or liability is recognized on the balance sheet after accounting for depreciation, amortization, or impairment losses.

Accounting Standards

Rules and guidelines that specify how financial transactions and elements should be recorded and reported in financial statements.

Income Tax Assessment Act

Legislation that outlines the rules and procedures for the assessment and collection of income tax in a jurisdiction.