Under the Uniform Commercial Code Rule 2-207 for the Sale

question 34

Multiple Choice

Under the Uniform Commercial Code Rule 2-207 for the sale of goods after a contract is made by the exchange of forms,when the acceptance form has terms additional to or different from the offer,_____.

• A) no contract will result because the acceptance form will be considered as a counteroffer and thus an implicit rejection of the offer
• B) a contract can result, but the differing terms may not be part of the contract
• C) a contract can result, and the differing terms must be included as part of that contract
• D) no contract will result because the acceptance form will not be considered as a counteroffer

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Definitions:

Stockholders' Equity

The ownership interest of shareholders in a corporation, represented by their shares of the company.

Increase Assets

The act of growing the resources owned by an entity that have future economic value and can be measured and expressed in monetary units.

Business Entity Assumption

A principle in accounting that treats a business as separate from its owners or other businesses, allowing for independent financial accounting and reporting.

Accounting Equation

The accounting equation, Assets = Liabilities + Equity, is the fundamental formula in accounting, ensuring that a company's balance sheet is balanced.