James and Debra Reid purchased a home for $623,000 in January 2014. They put down $62,300 and financed the remainder with Fifth Third Bank. Fifth Third Bank recorded its mortgage on February 1, 2014. On March 31, 2014, the Reids purchased a swimming pool and the pool contractors, Cristoria Pools, financed the construction for $45.000. Cristoria recorded a second mortgage on the property on April
15, 2014. On December 15, 2014, the Reids sold their house to the Griffins for $720,000. The Griffins put $120,000 down and agreed to pay the Reids for the existing mortgage in wrap-around. The mortgage balance at the time of the sale was $619,000. The balance on the Cristoria mortgage was $42,000. On August 15, 2015, the Griffins defaulted on their payments. The Reids had already purchased another home and were unable to make the payments on the home. Fifth Third Bank foreclosed on the mortgage. ?Who has second priority after expenses are paid?
A)?Fifth Third Bank
B)?Cristoria Pools
C)?The Reids
D)?The Griffins
B
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According to the textbook, Target has been successful by offering consumers the best
A. experience. B. products/services. C. customer service. D. price. E. availability.
Cash larceny involves
a. stealing cash from an organization before it is recorded b. stealing cash from an organization after it has been recorded c. manufacturing false purchase orders, receiving reports, and invoices d. A clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor.
Someone whose word is untrue and unreliable risks _____________________, either personal or legal
a. disclosure and sanctions b. an audit c. a bad reputation at work d. missing opportunities
The _______________ of ethical power refers to the leader establishing a long term vision for the organization.
a. Purpose b. Perspective c. Persistence d. Patience