An Effective Acceptance Must Be

question 13

Multiple Choice

An effective acceptance must be:

• A) conditional
• B) unequivocal
• C) witnessed in court
• D) all of the other specific choices are correct
• E) none of the other specific choices are correct

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Definitions:

Operating Expenses

Operating expenses are the costs associated with running a business's core operations on a daily basis, including rent, utilities, and payroll.

Mark-up

A supplementary percentage of the cost price of products designed to account for overhead costs and profit margins.

Profit or Loss

The financial outcome of a business or investment, determined by subtracting expenses from revenue, indicating either earnings (profit) or shortfall (loss).

Outstanding Balance

The amount of money owed that remains in a borrower's account that has not yet been paid.