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1 year ago

When borrowers fail to pay property taxes, allow their property to go into disrepair, or ______, they could face loan default.

1 answer:

kramer1 year ago

5 0

When borrowers fail to pay property taxes, allow their property to go into disrepair or miss scheduled mortgage payments, they could face loan default.

Property tax is a charge made on real estate that is owned by a person, a business, or another type of legal body. Property tax is most frequently a real estate ad-valorem tax, which is regarded as a regressive tax. It is computed by the local government in the area where the property is situated, and the owner is responsible for paying it. Usually, taxes are calculated based on the value of the assets that are possessed, including land. However, a lot of places additionally tax things like vehicles and boats that are tangible personal property. The local governing body will use the assessed taxes to pay for water and sewer improvements as well as for other community-beneficial services including libraries, law enforcement, fire protection, and road and highway building.

Learn more about property taxes here:

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Accounting: A. measures business activities. B. is often called the language of business. C. processes data into reports and com

Anvisha [2.4K]

Answer: Is all of the above.

Explanation:

Accounting involves the process of taking accurate records of financial and non-financial activities of a business organization. Accounting is the language of business as it is needed for every business to succeed, also in accounting, records are kept that are useful in decision making.

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3 years ago

Which of the following is not a typical adjustment made to the income statement for projection purposes?

ankoles [38]

Answer:

The correct answer is b. Adjusting revenues to only include organic revenue growth.

Explanation:

One of the quantitative planning techniques is the projection of financial statements or also called pro forma statements.

The applications that can be had among others are the following:

Know how the year will end for tax purposes in terms of income and deductions in order to make decisions before the end of the year.

Another application will be to know the external financing needs for the period you want to know.

The most common and practical method of projecting financial statements is based on sales.

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3 years ago

A cell phone provider charges felicia $50 per month for her plan plus $0.05 per min of long distance calls.if felicia wants to k

Sunny_sXe [5.5K]

$0.05m + $50>55

0.05 per minute plus $50 per month for the plan less than $55

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2 years ago

Which of the following is a true statement about inventory systems?A)Periodic inventory systems require more detailed inventory

balu736 [363]

Answer:

B)Perpetual inventory systems require more detailed inventory records.

Explanation:

Under the Perpetual inventory system, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.

Many times it varies because different units in inventory were purchased at different prices and times. Inflation might be a factor the prices changes too.

However, in the Periodic inventory system, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the Inventory account at the end of the year to know COGS.

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3 years ago

Butler Corporation is considering the purchase of new equipment costing $30,000. The projected annual after-tax net income from

kobusy [5.1K]

Answer:

($3,100)

Explanation:

Net cash flows each year = Projected annual after-tax net income + Depreciation

Net cash flows each year = $1,200 + $10,000

Net cash flows each year = $11,200 each year

Total value of inflows in 3 years = Net cash flows each year * Annuity factor of (10%,3 years)

Total value of inflows in 3 years = $11,200 * 2.4018

Total value of inflows in 3 years = $26,900

Net Present value = Present value of inflows - Cash outflow

Net Present value = $26,900 - $30,000

Net Present value = ($3,100)

So, tnet present value of the machine is ($3,100).

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2 years ago