1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
avanturin [10]
1 year ago
7

The UCC rule that says that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a sep

arate form that the offer will be held open cannot revoke the offer for the time stated or, if no time is stated, for a reasonable time is referred to as the ______
Business
1 answer:
makvit [3.9K]1 year ago
3 0

The UCC rule says that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or if no time is stated, for a reasonable time is referred to as the <u>Firm Offer Rule.</u>

<u></u>

<h3><u>A Firm Offer: What Is It?</u></h3>

When goods are sold, a firm offer is deemed to have been made when a guarantee to keep the offer open has been signed and the selling merchant meets the requirements for a merchant under the Uniform Commercial Code. Customers frequently ask for a definite offer so they can be certain of their cost over a predetermined period of time. A lot of retailers also request definite offers from their suppliers. Firm offers have a number of benefits, but there is a chance that things could change and the original offer would no longer be appropriate.

For instance, you might not be able to maintain the price you initially proposed due to rising raw material costs or running out of stock.

Only the time period specified in the offer is valid for firm offers. If the offer does not include a deadline, it will be valid for a maximum of three months.

Learn more about the firm offer rule with the help of the given link:

brainly.com/question/13640672?referrer=searchResults

#SPJ4

You might be interested in
If a payback period for a project is greater than its expected useful life, the project's return will always exceed the company'
Rudiy27

Answer:

entire initial investment will not be recovered.

Explanation:

Payback period is one of the methods used in capital budgeting.

Payback period calculates how long it takes for the amount invested in a project to be recovered from its cummulative cash flows.

For example, if a project costs $360 and the cash flow each year for its 6 years useful life is $120. The amount invested would be gotten back from the cummulative cash flow in 3 years.

But if a project costs $360 and the cash flow each year for its 2 years useful life is $120. The amount invested would never be gotten back the cummulative cash flow. Therefore, the entire investment amount will never be entirely recovered.

The project will always not be profitable

I hope my answer helps you.

3 0
3 years ago
In year 1000 a man named acholos nemroc celebrated him birthday, turning 100 years old, how old was he in -100?
Over [174]

Answer:

Okay

Explanation:

The answer is jjgxhkdyyffhohohugugojjhyfyffygihhhyghv28283939

3 0
3 years ago
An asset was purchased for $ 26 comma 000 on January​ 1, 2019. The​ asset's estimated useful life was five​ years, and its resid
Zielflug [23.3K]

Answer:

Loss on disposal $1,800

Explanation:

Cost of Asset            26,000

Useful life               5years

Sale proceeds       19,000

Depreciation for the year=$26,000/5=$5,200

Written Down value(WDV)=$26,000-$5,200=$20,800

Loss on Disposal= Sale proceeds-   WDV=$19,000-$20,800=$1,800  

It is assumed that depreciation is fully charged for the year on asset.                            

5 0
3 years ago
Which of the following statement is incorrect about the​ mission? A. The mission statement provides boundaries and focus for org
34kurt

Answer: OPTION E

Explanation: Mission refers to the ultimate goal that a business organisation has. It is the end point towards which all the procedures and activities of the business is to be carried out.

It is the future determining factor of a business. In nowadays the business is operating at a very high level with different functional area. These areas have different activities to perform and are useful in different ways by the organisation.

Thus, every functional area could have its different mission to complete.

7 0
3 years ago
True or false? adults are categorized as those ages 25–64.
Maslowich
It's most likely true. Anyone over 64 is typically considered a senior or elder.
3 0
3 years ago
Read 2 more answers
Other questions:
  • Under the Uniform Securities Act, which of the following negates a client's right to a civil suit for damages?
    10·1 answer
  • Goodman Company's inventory records show the following data: Units 5,000 4,500 3,000 Unit Cost $9.00 8.20 7.00 Inventory, Januar
    10·1 answer
  • Each of the svps has many questions for you. you give each time to pose the questions, and you take time to answer each question
    10·1 answer
  • Your family runs a specialty ice cream parlor, Scoops. It manufactures its own ice cream in small batches and sells it only in p
    6·1 answer
  • At the beginning of the year, Klein Company's pension plan showed pension plan assets of $4 million and a PBO of $4.5 million; u
    15·1 answer
  • TIMED TEST!!
    13·1 answer
  • Which margin is at the very bottom of the page when printing worksheets?
    8·2 answers
  • Alternative Production Procedures and Operating Leverage Assume Sharpie, a brand of Newell Brands, is planning to introduce a ne
    11·1 answer
  • CSUN Corp. reported EBITDA of $2,767,000 for the fiscal year ended December 31, 2019. During the same period, the company had $1
    11·1 answer
  • Difference between real flows and monetary flows​
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!