Which of the Following Transactions Can Occur Without the Buyer

question 59

Multiple Choice

Which of the following transactions can occur without the buyer and seller having a relationship?

• A)Beverly purchases a pair of sandals from a retail sales clerk.
• B)Leon buys a vacuum cleaner from a door-to-door salesperson.
• C)Art acquires a new Volvo from a car dealership.
• D)Ursula hires a weekly diaper service.
• E)No sale can take place without some buyer-seller relationship being established.

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Definitions:

Limited Partnerships

Business arrangements where at least one partner has unlimited liability while others have liability limited to the extent of their investments.

General Partners

Individuals in a partnership who are responsible for managing the business and are personally liable for the partnership's debts.

Limited Liability

A legal structure where a company's owners are protected from personal responsibility for the company’s debts or liabilities, beyond the amount of their investment in the company.

Voluntary Contract

An agreement entered into freely by two or more parties, where each party has the ability to accept or reject the terms of the agreement.