For external reporting purposes, GAAP requires companies to treat period costs as assets

The listing agent advertises his listing on the mls as instructed by the seller and at the agreed list price of $300,000 a buyer offers the seller $300,000 in writing with an earnest money deposit of 3,000 which of the following statements are true?

a. the seller can either accept , reject or counter the offer b. the listing broker must wait 72 hours before presenting the offer to give other buyers an opportunity to purchase the property c. because the offer is full price the seller is obligated to accept the offer d. the seller must pay a commission and accept the offer

A component is an item that may go through one or more operations to be transformed into or become part of one or more parents

Indicate whether the statement is true or false