Which of the following statements is true of the transfer of a property by sale?
A. Exclusive rights to sell contracts entitle the broker for a commission only if he procures the buyer.
B. Agreement between the seller and the buyer to purchase real property need not necessarily be in writing to be enforceable under the statute of frauds.
C. Engagement of a real estate broker is a legal requirement for the sale of real property.
D. Real estate sales contracts must be evidenced by a suitable writing signed by the party to be charged in order to be enforceable.
Answer: D
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Waxman Company purchased a patent for $170,000 at the beginning of 2013, and estimated that its expected useful life was 10 years. The patent has a legal life of 17 years. What amount should be recorded as amortization expense for the patent in 2013?
a. $ -0- b. $ 7,000 c. $10,000 d. $17,000
Excerpts from a cost-volume-profit analysis indicate fixed costs of $49,000, a contribution margin per unit of $35, a selling price of $90, and a sales level of 4,000 units. What must be the targeted level of profit?
a. $81,000 b. $106,000 c. $140,000 d. $91,000
One of the basic elements of zoning is the classification of land by permissible use as part of a comprehensive municipal plan
Indicate whether the statement is true or false
The distributions of rates of return for Companies AA and BB are given below: ? State of the Economy Probability of This State Occurring ? AA ? BB Boom0.2 30% -10% Normal0.6 10% 5% Recession0.2 -5% 50% ? We can conclude from the above information that any rational, risk-averse investor would be better off adding Security AA to a well-diversified portfolio over Security BB.
Answer the following statement true (T) or false (F)