Which of the Following Is True Regarding Payment and the Place

question 53

Multiple Choice

Which of the following is true regarding payment and the place for delivery if those terms are left open under the UCC?

• A)If payment terms are omitted,payment is due at the time and place at which the buyer is to receive the goods,and the place for delivery is the seller's place of business.
• B)If payment terms are omitted,payment is due at the time and place at which the buyer is to receive the goods,and the place for delivery is the buyer's place of business.
• C)If payment terms are omitted,payment is due at least 10 days prior to the date set for delivery,and the place for delivery is the buyer's place of business.
• D)If payment terms are omitted,payment is due at least 10 days prior to the date set for delivery,and the place for delivery is the seller's place of business.
• E)There is no contract if these terms are omitted.

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Definitions:

Unit Fixed Costs

The consistent expenses incurred by a company for each unit produced that do not change with the volume of production.

Level of Activity

A measure of the volume of production or operations, often influencing costs and profitability in a business.

Variable Costs

Expenses that vary in relation to the amount of products or services a company generates.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business over a certain period.