For a Proposal to Be Considered a Contractual Offer Then

question 47

Multiple Choice

For a proposal to be considered a contractual offer then the offeror must have what type of intent?

• A) Present intent to contract
• B) Future intent to contract
• C) No intent to contract
• D) Past intent to contract

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Definitions:

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure equality.

Debit And Credit Balance

Accounting terms where debit balances typically exist in asset and expense accounts, and credit balances in liability, equity, and revenue accounts.

Normal Balance

The side of an account (debit or credit) that is expected to have a higher balance, based on accounting rules.

Owner's Drawings

Removal of funds or other valuables from a company by the proprietor for their personal benefit.