Which of the following is not a party to the escrow instructions?
A)?Buyer
B)?Seller
C)?Escrow agent
D)?None of the above
D
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For monetary-unit sampling, a sampling interval of 400 means that:
A. the average misstatement in sample items is $400. B. every 400th dollar in the account will be included in the sample. C. the average size of items in the account is 400. D. every 400th item in the account will be selected in the sample.
Comet Corporation's liability account balances at June 30, 2013 . included a 1 . percent note payable. The note is dated October 1 . 2011, and carried an original principal amount of $600,000 . The note is payable in three equal annual payments of $200,000 plus interest. The first interest and principal payment was made on October 1 . 2012 . In Comet's June 30, 2013 . balance sheet, what amount
should be reported as Interest Payable for this note? a. $10,000 b. $15,000 c. $30,000 d. $45,000
The stakeholder theory operates on:
A. a socialist premise that business has obligations to society at large. B. the cooperation of all who have a vested interest in the success of the business. C. a network of tensions-the competing internal and external demands that form the business context. D. the assumption that hierarchical decisions and command and control are best.
Cool Runnings operates a chain of frozen yogurt shops. The company pays $5,000 of rent expense per month for each shop. The managers of each shop are paid a salary of $3,000 per month and all other employees are paid on an hourly basis. Relative to the number of shops, the cost of rent is which kind of cost?
A. Mixed cost B. Fixed cost C. Variable cost D. Opportunity cost