Provide the most common one-time or initial costs involved in buying a house
What will be an ideal response?
Answer: A down payment will be required. Closing or settlement costs must be paid. Other costs include points, loan origination fee, loan application fee, appraisal fee, title search, and title insurance. In addition, there may be an attorney's fee, recording fee, credit report charge, termite and radon inspection fee, and a notary fee.
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Which of the following will not cause a trial balance to be out of balance?
a. The balance for an account is incorrectly computed. b. A debit entry is posted as a credit. c. A credit entry is posted to the wrong account as a credit. d. An account is accidentally omitted from the trial balance.
A private university provides scholarships to students who are immigrants from certain countries. If Sam, a local resident, alters his documents to make it look like he belongs to one of these countries, what form of fraud has he committed?
A) defalcation B) false entry C) false token D) bribery
Within an organizational structure, the person most likely to be evaluated in terms of controllable costs would be:
A. A maintenance worker. B. A sales representative. C. A cost center manager. D. A payroll clerk. E. A production line worker.
Huntswell Corporation has two major divisions
Agricultural Products and Industrial Products. It provides the following information for the year. Agriculture Division Industrial Division Net sales $140,000 $1,250,000 Operating income $17,600 $218,000 Average assets $340,000 $5,500,000 Calculate the profit margin for the Industrial Division of the company. (Round your answer to two decimal places.) A) 3.96% B) 5.18% C) 17.44% D) 12.57%