An accounting worksheet is primarily a cash-only accounting system

Which of the following loan applicant characteristics is not relevant in the credit approval decision?

A. Leverage position of the borrower. B. Borrower income C. Value of collateral D. Borrower reputation. E. None of the above.

Which of the following statements is true of a legal offer?

A) The offer must be communicated to the party intended by the offeror. B) Industry custom and prior dealings are irrelevant when determining whether the terms of the offer are definite. C) Courts consider what was in the person's mind when entering the contract. D) The contractual process ends with the legal offer.