According to the provisions in the Contract to Buy and Sell Real Estate, if a broker has an interest-bearing trust account, the: interest may accrue to a nonprofit affordable housing fund.
<u>Explanation:</u>
When funds are deposited to a interest bearing trust account then interest can be obtained for those deposited funds. The annual percentage yield will be very smaller amount for this type of account. The amount of money will be paid to the account holder in annual basis which is called APY.
The interest that is paid to the account beneficiary is called trust account. When a broker has this type of account, according to the Contract to Buy and Sell Real Estate provisions, the interest may accrue to nonprofit affordable housing fund.
Answer:
D. Fiat money is backed by a commodity.
Explanation:
Fiat money is legal tender issued by a government that is not backed by a commodity such as gold. The issuing government backs fiat currency. The government though the central bank has better control of fiat money as it is the issuer. The value of a fiat currency depends on the stability of the issuing government, and its supply and demand.
Fiat currency differs from commodity money, which is currency backed by commodities such as gold or silver. Currently, the Us dollar, the Euro and a majority of world currencies are fiat money. Before 1971, the US dollar was commodity money backed by standard gold.
Answer:
5500 units per month must be sold to earn the required profit
Explanation:
The target profit is the amount of profit that a business wants to earn. To calculate the target profit, we can use the break even analysis and include the factor for target profit under its formula and calculate the units and the dollar sales needed to earn the target profit.
In this case, the target profit is $50000 per month.
The break even in units = Fixed cost / contribution margin per unit
Contribution margin per unit = selling price per unit - variable cost per unit
To calculate units required for target profit, we will add the target profit to the fixed cost and divide by the contribution margin per unit
Target profit units = (fixed cost + target profit) / Contribution margin per unit
So,
Contribution margin per unit = 20 - 10 = $10 per unit
Target profit units = (5000 + 50000) / 10
Target profit units = 5500 units per month
Management has the responsibility to apply accounting standards when communicating with investors and creditors.
Management (or managing) is the process of overseeing the operations of a company, nonprofit, or governmental entity. It is both the science and the art of managing a company's resources.
Setting an organization's strategy and managing employee (or volunteer) efforts to achieve goals through the use of available resources, such as financial, natural, technological, and human resources, are included in management.
The terms "run the business" and "change the business" are used in management to distinguish between the continuation of the delivery of goods or services and the adaptation of those same goods or services to accommodate changing client demands - see trend.
The term "management" can also refer to managers, who are responsible for running a company.
Learn more about management here:
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