Which of the following is not true about auctions?
a. The UCC provides that if an auction sale is advertised or announced in explicit terms to be with reserve, the auctioneer may not withdraw the article put up for sale unless no bid is made within a reasonable time.
b. Unless an auction is advertised as being without reserve, the sale is with reserve.
c. Whether an auction is with or without reserve, a bidder may retract his bid at any time prior to acceptance by the auctioneer.
d. If the auctioneer knowingly receives a bid on behalf of the seller and notice has not been given that the seller reserves the right to bid at the sale, the bidder to whom the goods are sold can avoid the sale.
a
You might also like to view...
An example of a contra-revenue account is
a. Purchases. b. Purchases Returns and Allowances. c. Purchases Discounts. d. Sales Returns and Allowances.
One of the risks of vertical integration is that there may be problems associated with unbalanced capacities or unfilled demands along a firm's value chain.
Answer the following statement true (T) or false (F)
As part of a quality audit, the audit firm must have policies and procedures in place for conducting an engagement quality review of each audit before issuing the audit opinion for public companies
a. True b. False Indicate whether the statement is true or false
A team characterized by a high level of diversity, geographic dispersion, and virtual rather than face-to-face interaction is known as a ________.
Fill in the blank(s) with the appropriate word(s).