1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
makkiz [27]
2 years ago
11

Gus has applied for a home equity line of credit from his federally insured bank so that he can make some renovations to his kit

chen. The same bank is his lender for his home mortgage. Will this loan be subject to Real Estate Settlement Procedures Act requirements
Business
1 answer:
horsena [70]2 years ago
3 0

This is true that the given loan will be subjected to Real Estate Settlement Procedures Act requirements as RESPA applies to any residential loan transaction from a federally insured financial institution, including equity lines of credit.

<h3 /><h3>What is Real Estate Settlement Procedures Act?</h3>

RESPA is an act that prohibits certain practices such as bribes, referrals, and unearned fees.

RESPA also regulates the use of escrow accounts, for instance, it prohibits credit managers from asking for excessive large escrow accounts and prevents sellers from hiring title insurance companies.

Therefore, This is true that the given loan will be subjected to Real Estate Settlement Procedures Act requirements as RESPA applies to any residential loan transaction from a federally insured financial institution, including equity lines of credit.

learn more about RESPA:

brainly.com/question/14102102

#SPJ1

You might be interested in
Laura's father, Albert, gave Laura a gift of 500 shares of Liba Corporation common stock in 2017. Albert's basis for the Liba st
Vikentia [17]

Answer:

B) $3,000

Explanation:

Since Laura acquired this property (stocks) by gift, her basis for loss will be $3,000 which is equal to the fair market value at the time she received the gift. If she had made a gain with this transaction, her basis for gain would have been the $4,000 of her father's basis.

7 0
3 years ago
High income countries with larger governments as a share of gdp have generally
Scorpion4ik [409]

Answer: High income countries with larger governments as a share of GDP have generally grown at a slower rate than the countries with smaller governments.

Explanation: Developing countries or countries with less money typically grow at a faster rate than higher income countries because returns related to capital are not as strong. In richer countries, they have higher capital and tend to grow at a slower rate.

5 0
3 years ago
Which of the following statements is FALSE?A. The income statement is put together at a specific point in time​ (end of a busine
skelet666 [1.2K]

Answer:

C. Depreciation is a current expense of a cash outflow in the current period.

FALSE depreciation is a deferral expense it do not related t oa cash flow

Explanation:

A. The income statement is put together at a specific point in time​ (end of a business​ quarter, or business​ year) and so the sale could be in one period and the cash received in another period.

CORRECT income statement end at a certain date and include transaction under accrual accounting which doesn't relate to cash disbursements or collection

B. The income statement contains the set of expenses associated with the products or services sold during the current operating​ period, with those expenses not associated with current cash flow labeled as nonminuscash expense items

CORRECT It works with accrual accounting

D. Companies depreciate fixed assets​ (such as office​ furniture, equipment,​ machinery, and​ buildings) over an assigned time​ period, but the initial cash outlay for the fixed asset typically occurs at the time the asset is acquired by the firm.

CORRECT the cash disbursements occurs at time zero. Then, the accounting distributes this over several period to decrease the impact in the first period

5 0
3 years ago
What are the pros and con's for the arrive alive campaign?
Elena-2011 [213]
The Arrive Alive campaign was launched to prevent road accidents or at least lessen the instances of accidents due to drunk driving and reckless driving.

The advantages of this campaign are:

1. It promotes awareness among drivers to drive safely. 
2. It educates drivers on the rules and safe acts when on the road. 

The disadvantages of this campaign are:

1. It does not completely eliminate the risk of accidents due to drunk and reckless driving. It merely 'educates' the drivers about safe acts. 
2. It still allows the drivers to drink and drive but at 'allowable alcohol level' which does not help at all.

In the end, the Arrive Alive campaign failed. 
3 0
3 years ago
Read 2 more answers
In which era of the marketing evolution did firms begin to focus on what consumers wanted and needed before designing, making, o
Alex

The era of the marketing evolution  in which  firms begin to focus on what consumers wanted and needed before designing, making, or selling a product is market-oriented era.

<h3>What is the market-oriented era?</h3>

It  should be noted that around the year  1940s when industries realized that focusing only on their business needs  and as a result of this the customers are unsatisfied.

However, the  businesses' marketing tactics  that is been engaged that time is identifying what customers need and effectively customizing activities .

Find out more on market-oriented era at brainly.com/question/12439497

#SPJ1

4 0
2 years ago
Other questions:
  • Springfield Co., based in the U.S., has a cost from orders of foreign material that exceeds its foreign revenue. All foreign tra
    6·1 answer
  • As idle time gaming, inc.s business and product lines continue to grow, it wants to limit the need to build additional space to
    5·1 answer
  • Which of the following is LIKELY to have the biggest strategy-shaping impact on on-demand transportation providers such as Uber
    8·1 answer
  • Kolander Company has the following accounts and balances at the end of the​ year:
    6·1 answer
  • The following information is available for Mergenthaler Corporation for the year ended December 31, 2022:
    10·1 answer
  • Lisa consumes only pizzas and burritos. In equilibrium, her marginal utility of pizza is 40 and her marginal utility of a burrit
    12·1 answer
  • 5. Todd has his home and personal property insured under a Homeowners 3 (special form) policy. The dwelling is insured for $120,
    5·2 answers
  • Interest groups may use ________ in mass-circulation magazines, newspapers, and television to improve their standing in the comm
    5·1 answer
  • A student copies information from a website into a term paper without giving credit. This action is most strongly related to whi
    11·2 answers
  • 9. You decide to run a landing page experiment to test a new carousel which highlights your top performing products. Which two r
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!