In a __________ financing transaction, the second lender lends the owner the additional funds and agrees to take over the servicing of the first loan
a. permanent
b. wraparound
c. mortgage
d. deed of trust
b
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Tanner and Teresa share income and losses in a 2:1 ratio after allowing for salaries to Tanner of $42,000 and $60,000 to Teresa. Net income for the partnership is $132,000 . Income should be divided as follows:
a. Tanner, $57,000; Teresa, $75,000 b. Tanner, $58,000; Teresa, $74,000 c. Tanner, $75,000; Teresa, $57,000 d. Tanner, $62,000; Teresa, $70,000
An exchange of one share of an old issue of stock for a multiple number of shares of a new issue of stock with a reduced par or stated value is known as a stock split
a. True b. False Indicate whether the statement is true or false
Saul would like to buy a new car that is more environmentally friendly, however, his son is joining several soccer teams (he is getting to be a very good player), and his wife would like to return to school and finish up her last few credits. How is Saul trying to prevent dissonance?
A. perceived importance B. dissonance ratio C. rationalize D. schemata
Which is NOT an attribute of an external auditor?
A. Objectivity. B. Auditee advocacy. C. Independence. D. Concern for the public interest.