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Subject Topic: QUESTION OF THE DAY - MCQ’S ALL SECTIONS (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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cpanet
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Posted: 16 Sep 2010 at 16:56 | IP Logged  

Welcome to the Question of the Day, hosted by Andrew Lee of CPA Review Materials.  A little about Andrew:

Andrew Lee is a CPA, licensed in the state of California. He passed all four sections of the
CPA exam under the computerized format on his first attempt, all within a 10-day period.
Andrew operates the website www.CPAreviewmaterials.com, which aims to help applicants
pass the exam by providing exam advice and offering discounted CPA review courses
from multiple publishers.
 

Andrew lives with his wife, dog and cat in Vancouver, Washington. After graduating
from Walla Walla University, he worked for three years as an auditor in California.
He currently splits time between his job as controller for a Vancouver-based
company and the website.

You can follow Andrew at: twitter.com/cpastudy.  Now let's get on with those questions, give it your best shot!




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AndrewCPA
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Posted: 16 Sep 2010 at 19:59 | IP Logged  

Hi everyone! A question will be posted here each weekday. Feel free to chime in, analyze, and provide what you believe to be the correct answer. The following weekday, I will post the answer.

Today's question: REG

In order for an offer to confer the power to form a contract by acceptance, it must have all of the following elements except?

A) Be communicated to the offeree and the communication must be made or authorized by the offeror.

B) Be sufficiently definite and certain.

C) Be communicated by words to the offeree by the offeror.

D) Manifest an intent to enter into a contract.



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Zaika
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Posted: 16 Sep 2010 at 20:54 | IP Logged  

B or C.. I lean more towards B. Haven't studied for Reg yet. How about some Far questions?
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cyberwolf
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Posted: 17 Sep 2010 at 01:25 | IP Logged  

the answer is C because the offer could be made by a 3rd party, such as an agent.
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AndrewCPA
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Posted: 17 Sep 2010 at 11:32 | IP Logged  

Correct answer: C

Explanation: Communication by words is not required as the communication can also be done by actions. Equally, the communication need not be directly made by the offeror to the offeree, as it could be communicated through a third party. An offer must be seriously intended, communicated, and definite in its terms.



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