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Acme Co.offers to buy 1000 widgets from Widget World Co.The written offer provides for 1000 at $10 per widget,to be delivered May 1.The offer has no other provisions.Widget World sends a written acceptance.However,the acceptance also states that if any claim arises under this contract,Widget World must be notified within 10 days.Acme does not object to this provision.Both parties are merchants.Which of the following best describes this situation?
Bank Account
An account held by an individual or business with a financial institution, allowing for the deposit and withdrawal of funds.
Physical Custody
The actual possession or direct control of tangible assets, documents, or securities.
Asset Records
Documentation that details the acquisition, valuation, and disposal of assets owned by an individual or organization.
External Auditors
Independent professionals outside of the organization who examine the company's financial statements to ensure accuracy and compliance with accounting standards.
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