Which of the Following Constitutes an Acceptance by the Buyer

question 35

Multiple Choice

Which of the following constitutes an acceptance by the buyer?

• A) asking for inspection of goods upon its arrival
• B) not passing the title of the goods to another buyer
• C) failing to reject the goods within a reasonable time after delivery
• D) accepting nonconforming goods

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Definitions:

Optional

Optional refers to a choice or item that is not mandatory and can be selected based on preference or requirement.

Adjusting Entries

These are journal entries made in accounting at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the books for the next period.

End-Of-Period Spreadsheet

A financial report used to compile and summarize the accounting information at the end of an accounting period, including balances for assets, liabilities, and equity.