"All land but my spring" is a sufficient description
Indicate whether the statement is true or false
False
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Bob, a merchant, makes an offer to Linda, another merchant, to buy 1,000 of her widgets in a signed letter containing all necessary terms of the offer. The letter states that Bob will keep the offer open for three weeks from the day the offeree receives it. One week later, Bob writes another letter to Linda attempting to revoke his offer. Linda writes a letter to Bob accepting Bob's original offer before she receives his revocation. Which of the following statements is true of this situation?
A. Promissory estoppel prevents the formation of a contract in this situation. B. Bob's revocation is effective and no contract is created. C. Linda's acceptance is effective and a contract is created. D. The offer cannot be revoked since it is an option offer.
A short-term note payable is a written promise to pay a specified amount on a stated future date within five years or the operating cycle, whichever is more reasonable.
Answer the following statement true (T) or false (F)
Regarding accounting entries for debt securities, which of the following is true?
A) The receipt of interest revenue is recorded with a debit to Interest Revenue and a credit to Cash. B) Investments in debt securities are recorded at cost, including any brokerage fees paid. C) The receipt of interest revenue is recorded with a debit to Cash and a credit to Long-term Securities-Held-to-Maturity. D) Debt securities disposed of at maturity are recorded with a debit to the Short-term or Long-term Investments account and a credit to Cash.
Any "person" may be a debtor in a liquidation proceeding.
Answer the following statement true (T) or false (F)