When Goods Are Sold by Tender,the Offer Is Accepted and the Contract

question 33

Multiple Choice

When goods are sold by tender,the offer is accepted and the contract is formed:

• A)according to the terms on which the invitation to tender is made.
• B)as soon as the announcement is made by the seller.
• C)when the tenderer accepts the sellers offer by submitting a tender.
• D)when the seller accepts the tenderer's offer by accepting the tender.

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Definitions:

Dollar Sales Revenue

The total amount of money generated from sales of goods or services, expressed in dollar terms.

Unit Volume

A measurement quantifying the number of units of a product sold or produced.

Volume Objectives

Objectives set by a company to achieve a specified quantity of sales or production volume within a certain timeframe.

Carrying Costs

Expenses related to holding inventory, including storage costs, insurance, and loss due to obsolescence.