The Owner of a Lost Dog Posts Notices That She

question 462

Multiple Choice

The owner of a lost dog posts notices that she will pay $200 for its return. Someone who does not know about the reward finds the dog and returns it. The owner.

• A) must pay the reward due to public policy considerations that encourage the completion of such contracts
• B) must pay the reward because the unilateral contract was completed
• C) must pay the reward because there was an intent to make a valid offer and to be bound by that offer
• D) does not have to pay the reward because the offer was not communicated to the person who found the dog
• E) does not have to pay the reward because there was no meeting of the minds

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Definitions:

Budgeting Process

The process of creating a plan for the allocation of resources, typically involving projected revenue and expenses.

Starting Point

The initial position or phase from where a process, project, or calculation begins.

Expected Future Net Income

An estimate of the net profits or losses a company anticipates generating in the future.

Continuous Budgeting

A financial planning approach where a rolling budget for a future period is continuously updated.