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Money or property granted to someone, but held by a third party until specific conditions have been fulfilled is called escrow.
The term escrow indicates a temporary condition of an item in financial transactions such as money or property which has been transferred to a third party and this transfer is usually done on the part of a buyer and a seller.
Escrow is usually a type of legal holding account for items, which as cannot be released until the satisfaction of predetermined conditions. Items are held typically in escrow till the process involves a financial transaction that has to be completed. In escrow, valuables are held which include real estate, money, stocks as well as securities.
It is a type of legal arrangement in which a third party holds on to money or property temporarily until a particular condition has been reached which clearly includes the fulfillment of a purchase agreement.
Learn to know more about escrow packages at
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Answer:
0.6
Explanation:
Variable Expense Ratio is calculated by taking Variable Expense and dividing it by Sales. This ratio indicates how much of the variable expense is incurred by company for each $1 Sales.
So, variable expense ratio is .6 or 60% (33,000 / 55,000).
Such questions also require the calculation of Contribution Margin Ratio which is calculated by taking Contribution Margin and Dividing it by Sales. This ratio tells us how much the company generates after covering variables expenses when the sales are $1.
So, Contribution Margin Ratio is .4 or 40% (22,000 / 55,000).