Explain the concept of marketable title
The law of conveyancing has firmly established that a contract for the sale of land carries with it an implied obligation on the part of the seller to transfer marketable title. Marketable title means that the title is free from: (a) encumbrances such as mortgages, easements, liens, leases, and restrictive covenants; (b) defects in the chain of title appearing in the land records; and (c) any other defects that deprive the seller of title, such as adverse possession or eminent domain.
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Answer the following statements true (T) or false (F)
1. The balance sheet shows why cash increased or decreased. 2. The statement of cash flows shows where cash came from and how cash was spent. 3. The statement of cash flows is dated the same as the balance sheet. 4. The statement of cash flows explains why net income as reported on the income statement does not equal the change in the cash balance.
Which of the following words is the present participle of the word "answer"?
A. Answered B. Answering C. Will answer D. To answer
A Treasury bond has an 8% annual coupon and a 7.5% yield to maturity. Which of the following statements is CORRECT?
A. The bond sells at a price below par. B. The bond has a current yield greater than 8%. C. The bond sells at a discount. D. The bond's required rate of return is less than 7.5%. E. If the yield to maturity remains constant, the price of the bond will decline over time.
Of all commercial banks, about ________ percent belong to the Federal Reserve System
A) 10 B) 25 C) 33 D) 50