Which of the following is true of a land contract?
A. The trustee holds legal title to the property put up as security.
B. The buyer agrees to pay the purchase price over a period of time.
C. If a buyer defaults, the seller does not have the right to declare forfeiture.
D. The lender holds legal title to the property put up as security.
Answer: B
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Describe the three categories of software?
What will be an ideal response?
Cloud-based ERP systems feature all of the following except?
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[The following information applies to the questions displayed below.] Assume the perpetual inventory system is used. 1) Green Company purchased merchandise inventory that cost $64,000 under terms of 2/10, n/30 and FOB shipping point. 2) Green Company paid freight cost of $2,400 to have the merchandise delivered. 3) Payment was made to the supplier on the inventory within 10 days. 4) All of the merchandise was sold to customers for $94,000 cash and delivered under terms FOB destination with freight cost amounting to $1,600. What is the amount of gross margin that results from these transactions?
A. $28,880 B. $27,280 C. $31,280 D. $29,680