Mr. and Mrs. Bing purchased a business from Ms. Clark in an arm's length transaction. This transaction occurred in a private market.

Question

Quizplus · Accepted Answer

The statement indicates that the transaction occurred in a private market, which means it was negotiated directly between the buyer and seller without the involvement of a public exchange. The fact that it was an arm's length transaction further indicates that the parties involved were independent and acted in their own self-interest.

Mr and Mrs