Jasmine Offers $100 to Anyone Who Can Return Her Lost

question 64

Multiple Choice

Jasmine offers $100 to anyone who can return her lost dog,Champ.Kayla returns the dog and requests the money.Jasmine says that there is no binding contract.Which of the following is true regarding Jasmine's statement?

• A)Jasmine is correct because there is no binding bilateral contract.
• B)Jasmine is correct because there is no binding unilateral contract.
• C)Jasmine is incorrect because there is a binding unilateral contract which Kayla accepted by performing.
• D)Jasmine is correct because Kayla acted incorrectly by her manner of attempted acceptance.
• E)Jasmine is incorrect because there is a binding bilateral contract.

Understand the assumptions and limitations of economic models and theories.

Explain the implications of scarcity on economic decisions and society.

Grasp the relevance of economic laws and generalizations across different economic conditions.

Understand the causes and consequences of the Second Seminole War.

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Definitions:

Financial Accounting

The field of accounting that focuses on the summary, analysis, and reporting of financial transactions pertaining to a business to external users.

Managerial Accounting

The area of accounting focused on providing financial data and advice to company managers for decision-making purposes.

GAAP

Generally Accepted Accounting Principles encompass a series of standard accounting practices and rules for the creation of financial reports.

Financial Accounting

The field of accounting that focuses on providing information to external users such as investors, creditors, and regulators, primarily through financial statements.