Which of the following is true of private mortgage insurance?
A) It generally is required if the borrower makes a down payment of less than 20%.
B) It costs $20 to $25 per year.
C) It protects the borrower in the event that the lender goes bankrupt.
D) It is another name for title insurance.
Answer: A
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The account Allowance for Uncollectible Accounts is classified as a(n)
A) contra account to Uncollectible Accounts Expense. B) expense. C) liability. D) contra account to Accounts Receivable.
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Adverse possession of property involves:
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