Which of the Following Basic Requirements Must Be Met for an Offer

question 14

Multiple Choice

Which of the following basic requirements must be met for an offer to sell goods to be a firm offer?

• A) It must contain assurances that it will be revocable.
• B) The offeror must be a merchant.
• C) It must have been made orally.
• D) The outer limit on the period of irrevocability for firm offers must be 10 months.

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Definitions:

Operating Cash Flow

Money generated from the ordinary operations of a company.

Depreciation

The systematic allocation of an asset's cost over its expected useful life to account for its loss of value over time.

Tax Rate

The division of one's or a company's income that is allotted by the government for tax purposes.

Total Sales

This figure represents the aggregate revenue a company generates from selling its goods or services within a specific period.