The primary external users of accounting information are investors and management

Which statement accurately describes a trade deficit?

Broker Wildon took a listing. Wilson's salesperson brought in an offer. One hour later another offer on the same property came in from a different real estate company. The salesperson from Broker Wilson's office submitted the first offer first. Which of the following is correct?

a. it's all right if the two offices decide on a commission split in advance. b. failure to submit the second offer is permitted if the brokers agree c. Broker Wilson must inform the seller of both offers or be subject to disciplinary action d. only the offer with the highest price need be submitted