Mijo made $2,200 profit. The initial investment had nothing to do with him therefore it is not considered his loss because the initial investment did not belong to him. Once he inherited the stock at $12,000 his personal profit/loss began to occur. Also the character of the profit would be not a fixed remuneration becauae of the flux of the markets, fees, etc.
Answer:
Effect on income= -$22,000 decrease
Explanation:
Giving the following information:
Contribution margin $30,000
Fixed expenses ($40,000)
Net operating loss ($10,000)
<u>If a product line provides a positive contribution margin, generally it is convenient to continue production, at least in the short term.</u>
<u></u>
Effect on income= avoidable fixed costs - contribution margin
Effect on income= 8,000 - 30,000
Effect on income= -$22,000 decrease
Answer:
Please see answers below.
Explanation:
A. Three important Items to double check before submitting a loan application to underwriting.
• Completeness of data : One has to be sure that all important details are captured hence none is left out. It means that there are no missing information on the application.
• Calculations performed accurately: This means that calculations such as borrower's income, qualifying ratios are calculated accurately and also double checked for the purpose of the loan underwriting.
• Documentations required by the loan programme. All Documentations required by the loan programme must be double checked before submitting a loan application to underwriting.
B. List at least two things you would be sure to tell a borrower in preparation for closing
• I will seek clarity in terms of the money borrower would be bringing to the closing table.
• The date,time,venue of closing are essential for the closing hence will be communicated to the borrower. Also, there are no right or wrong answers that may be asked or given by the borrower during the closing.
C. List at least three calculations that are typically used during the course of mortgage loan transaction.
• Income calculation
• Front end and back end ratio (DTI ratio)
• Monthly payment.
The meaning of making "difficult choices" when creating a federal budget is: D. deciding what will be funded and what will be cut.
<h3>What is a federal budget?</h3>
A federal budget refers to a financial plan that is typically used by the government for the estimation of the revenue (taxation) and expenditures (spending) of a country over a specified period of time, which is often one year.
This ultimately implies that, making "difficult choices" when creating a federal budget simply means to decide what will be funded by the government and what will be cut from the budget.
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A lease is a contractual arrangement where one party, called the lessor, provides an asset for use by the other party, referred to as the lessee, based on periodic payments for an agreed period. The lessee pays the lessor for the usage of the asset or property
The landlord is the party to the lease who owns the property and leases it to the tenant as a rental property for temporary possession. For example, in a rental house, the landlord is the landlord and the tenant is the tenant.
A lessor is either an individual or a legal entity such as a company or organization. The lessor is always the owner of the property. For example, for a car, the lessor can be the owner or car dealer who rents the car. The lessee is always the person who uses the property temporarily
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