Vito borrows $150,000 from Workers & Farmers Bank to buy a home. If he fails to make payments on the mortgage, the bank has the right to repossess and auction off the property securing the loan. This is
A) a cram-down provision
B) a forbearance.
C) aforeclosure.
D) the right of redemption.
C
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When Jason watches the news, he filters what he hears to suit his own needs, biases, and expectations. Which of the following is Jason using?
a. selective memory b. selective exposure c. selective attention d. selective perception
Why is it important for an organization's top officials to demonstrate ethical leadership?
What will be an ideal response?
Alice says to Brian, "If I decide to buy a word processor next year, I will buy it from you." This is an example of:
a. an illusory promise. b. past consideration. c. the pre-existing duty rule. d. good consideration.
Arca Incorporated makes a single product-a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$38,700 Budgeted fixed manufacturing overhead 170,700 Total budgeted manufacturing overhead$ 209,400 Budgeted production (a) 20,000unitsStandard hours per unit (b) 1.50machine-hoursBudgeted hours (a) × (b) 30,000machine-hours Applying Overhead: Actual production (a) 15,000unitsStandard hours per unit (b) 1.50machine-hoursStandard hours allowed for the actual production (a) ×
(b) 22,500machine-hours Actual Overhead and Hours: Actual variable manufacturing overhead$9,812 Actual fixed manufacturing overhead 185,700 Total actual manufacturing overhead$ 195,512 Actual hours 22,300machine-hoursThe predetermined overhead rate is closest to: A. $8.69 per machine-hour B. $13.03 per machine-hour C. $6.98 per machine-hour D. $10.47 per machine-hour