Under the UCC, Any Written Offer by a Merchant to Buy

question 40

Multiple Choice

Under the UCC, any written offer by a merchant to buy or sell goods that states that the offer will be held open for a specified time period:

• A) can be revoked during that time period, but only in writing.
• B) cannot be revoked during that time period.
• C) cannot be revoked by spoken word.
• D) can always be revoked.

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Definitions:

Cash Flow Growth Rate

The rate at which a company's cash flow from operations increases over a given time period.

Required Rate

The minimum rate of return expected by investors on an investment or project.

Growing Annuity

An annuity that increases at a proportionate rate during the period of the contract, typically to combat inflation.

Annuity Growth Rate

The rate at which the value of an annuity investment increases over time.