Which of the Following Conditions Characterizes a Firm Offer Regarding

question 34

Multiple Choice

Which of the following conditions characterizes a firm offer regarding the sale of goods?

• A)It must be verbally communicated.
• B)It can be revoked by the offeror prior to acceptance.
• C)It must be made in the presence of a government official.
• D)It must be made by an offeror who is a merchant.

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Definitions:

Manufacturing Companies

Businesses that produce goods from raw materials through the use of manual labor or machinery, often involving assembly processes.

Cost of Goods Manufactured

The total production cost of goods completed during an accounting period, including labor, material, and overhead costs.

Income Statement

A financial statement showing the company's revenues, expenses, and profits over a specific period.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time.