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Which one of the following is the best example of a Type II subsequent event?
Online Auction
A digital marketplace where items are sold to the highest bidder through a timed bidding process.
Effective Offer
A proposal that meets all legal requirements and is presented in a manner that a reasonable person would understand its terms, triggering a potential contract.
Good Faith
The honest intention to act without taking an unfair advantage over another party in a transaction.
Reasonableness
The quality of being moderate, fair, and sensible in judgment or expectations, often evaluated in legal contexts.
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