To have the ability to sell off individual lots before paying off the entire balance due, the developer will need to obtain a blanket mortgage.
<h3>
What is
a blanket mortgage?</h3>
- A blanket mortgage is a single mortgage that covers many properties and serves as security for the loan.
- Real estate developers and larger investors frequently purchase multiple properties at once, thus a blanket mortgage allows them to consolidate such deals into a single loan.
- Consider the money you'd save on closing fees, both for the original mortgage and any subsequent refinances.
- Refinancing from numerous loans to a single blanket mortgage may also result in lower monthly payments, which may increase your cash flow.
Therefore, to have the ability to sell off individual lots before paying off the entire balance due, the developer will need to obtain a blanket mortgage.
Know more about a blanket mortgage here:
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Answer:
nonprogrammed decision
Explanation:
Nonprogrammed decision refers to a form of decision that is made based on new circumstances that never really happened in the past. Typically This type of decision happen when there is an external factor that mess up without initial plan.
In the example above, Ocelot need to consider their decision due to unexpected large expenses. This unexpected situation will force ocelot to explore a new solution that they never encountered before.
Answer:
C. Accounts receivable will be credited by $7,200
Explanation:
Accounts receivable are expected payments from customers. They exist because businesses sell goods and services to customers on credit. Account receivables are asset accounts. An increase in assets accounts is debited, and a decrease is credited.
If the banks received payment from a customer, it means a customer has paid for goods sold on credit. Accounts receivable have decreased ( to be credited), but cash in the bank has increased.
<h3>Hello there!</h3>
Your question asks what order does a activity-based costing system work by.
<h3>Answer: b, c, a, d</h3>
The order:
1. b). Identify activities and estimate their total indirect costs.
2. c). Identify the allocation base for each activity and estimate the total quantity of each allocation base.
3. a). Compute the predetermined overhead allocation rate for each activity.
4. d). Allocate indirect costs to the cost object.
The reason why the answer choice "b, c, a, d" is the correct answer because that's the correct order for the activity-based costing system.
The activity-based costing system first identifies the activities that are going on and find the indirect cost, then identifies the allocation base for the activities that are occurring to find the quantity of the allocation base, then solve the pre-determined rate of allocation for each activity, and finally get the indirect cost for the object.
<h3>I hope this helps!</h3><h3>Best regards,</h3><h3>MasterInvestor</h3>
Answer:
C) increase liabilities and assets by $20,000.
Explanation :
Any financial transaction affects both assets and liability equally. If asset is increased , liability also is increased and vice-versa.
In the given problem , Option A and option B states that while one increases , other decreases. which is not possible .
So option C is correct.
