Which of the Following Is True Regarding the Uniform Electronic

question 7

Multiple Choice

Which of the following is true regarding the Uniform Electronic Transactions Act?

• A) It eliminates all effects of the mailbox rule.
• B) It provides that offers may not be accepted electronically but otherwise retains aspects of the mailbox rule.
• C) It provides that acceptances may not be made electronically but otherwise retains aspects of the mailbox rule.
• D) It seems to create an electronic version of the mailbox rule.
• E) It delays the effect of the mailbox rule by 8 hours.

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Definitions:

Opportunity Costs

Opportunity costs represent the benefits a person or business misses out on when choosing one alternative over another.

Implicit Costs

The opportunity costs of using resources that a firm already owns, representing the income the firm foregoes by using those resources internally rather than renting or selling them.

Explicit Costs

Explicit costs are direct, out-of-pocket payments for resources or services needed for production, such as wages, rent, and materials; they're easily quantifiable and recorded.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting a business activity or making a decision.