Which of the Following Is True of a Revocation

question 60

Multiple Choice

Which of the following is true of a revocation?

• A) The power of revocation of an offer lies with the offeree.
• B) Death or insanity cannot be reasons for revocation.
• C) Promissory estoppels are used to prevent revocations.
• D) Offers that fail to state a specified time period are considered invalid.

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Definitions:

Amortization Expense

Amortization expense is the process of systematically allocating the cost of an intangible asset over its useful life, reflecting the consumption of the asset's economic benefits over time.

Significant Influence

The ability to engage in the decisions related to the financial and operating policies of an investee without having control over those policies.

Common Stock

A type of equity ownership in a corporation, representing a claim on part of the company's profits and a right to vote on corporate matters.

Dividends

Payments made to shareholders out of a company's profits.