Under Common Law,when Does Formation of an Agreement Begin

question 31

Multiple Choice

Under common law,when does formation of an agreement begin?

• A)When the offeree makes an offer to the offeror.
• B)When consideration is provided.
• C)When funds are transferred.
• D)When a writing is executed.
• E)When the offeror makes an offer to the offeree.

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Definitions:

Intersegment Sales

Transactions of goods or services between segments of the same company, which are used for internal accounting purposes.

Consolidated Revenue

The total revenue recognized from the combined operations of a parent company and its subsidiaries, after inter-company transactions have been eliminated.

Revenue Test

A criterion used to determine whether a business segment or component qualifies as a reportable segment based on its revenue amount, either internally or externally generated.