Royal Properties, Inc., mails a flyer to hundreds of firms, advertising a building for sale. Standard Manufacturing Company responds by saying, "We accept your offer." Between Royal and Standard, there is
A. a contract for the sale of the building.
B. a contract to consider the offer before any others.
C. a contract to negotiate a sale of the building.
D. no contract.
Answer: D
You might also like to view...
The following criminal penalties may be imposed for violations of the FCPA'S (Foreign Corrupt Practices Act) antibribery provisions except:
A) corporations are subject to a fine of up to $2,000,000. B) officers, directors, stockholders, employees, and agents are subject to a fine of up to $100,000. C) fines imposed on individuals can be paid by their employer or principal. D) the fines may be much higher, up to twice the benefit sought by the defendant. E) in addition to fines, there may be imprisonment for up to five years.
People in the United States are more formal when compared to people of other cultures
Indicate whether the statement is true or false.
On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $69,000 and $2500, respectively. During Year 2, Kincaid reported $180,000 of credit sales, wrote off $1600 of receivables as uncollectible, and collected cash from receivables amounting to $210,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.What effect will the entry to recognize the uncollectible accounts expense for Year 2 have on the elements of the financial statements?
A. Decrease total assets and increase retained earnings. B. Decrease total assets and net income. C. Increase total assets and decrease net income. D. Increase total assets and retained earnings.
The duty of a possessor of land to persons who come on the land usually depends on whether those persons are:
A) invitees, trespassers, or licensees. B) reasonable persons. C) fiduciaries. D) involved in abnormally dangerous activities.