Under the UCC,how May an Acceptance Be Made

question 33

Multiple Choice

Under the UCC,how may an acceptance be made?

• A) Only by a writing.
• B) Only orally or by a writing.
• C) Only by electronic communication or by a writing.
• D) Only by facsimile or by mail.
• E) By any reasonable means of communication.

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Definitions:

Ordering Costs

Expenses associated with placing orders for more inventory, including costs related to order processing, communication, and transportation.

Memory Chips

Electronic components used to store data temporarily or permanently in computers and other devices.

Safety Stock

Safety stock is an additional quantity of an item held in inventory to reduce the risk of stockouts and production halts, serving as a buffer against demand fluctuations or supply delays.

Maximum Inventory

The highest quantity of goods that a company aims to keep in stock, considering factors like storage space and cash flow constraints.