Velma borrows $110,000 from Watershed Bank to buy a home. If she 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 short sale.
B. forbearance.
C. foreclosure.
D. the equitable right of redemption.
Answer: C
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Nonprofit organizations use intermediaries because of
a. their experience, specialization and contacts b. new channel opportunities emerge c. a desire to keep more revenue d. it attracts more attention to the offering e. all of the above
The cost object of the plantwide overhead rate method is:
A. The production activities of the company. B. The unit of product. C. The time period. D. The production departments of the company. E. Manufacturing cost pools.
In a trade acceptance, the drawer is ordered to pay a specified sum of money to the drawee
Indicate whether the statement is true or false
Jeffreys Company reports depreciation expense of $57,000 for Year 2. Also, equipment costing $191,000 was sold for a $11,700 loss in Year 2. The following selected information is available for Jeffreys Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.At December 31Year 2Year 1Equipment$695,000? $886,000? Accumulated Depreciation-Equipment 496,000? 585,000?
A. $33,300. B. $77,300. C. $56,700. D. $57,000. E. $45,000.