In such a scenario, the most the seller can contribute to the closing costs is up to<u> 6%. </u>
<h3>When can seller contribute to closing costs?</h3>
- The borrower must make a down payment of an amount between 10% and 24.9%.
- The loan must be conforming.
As the down payment of 12% falls within the 10% and 24.9% range, the seller can make a contribution of up to 6% should they please.
In conclusion, they can contribute 6%.
Find out more on conventional loans at brainly.com/question/1130069.
Answer:
Difference between managerial accounting and financial accounting is described as follows:-
- Managerial accounting is the accounting process for observing and recording business transaction whereas information and facts of accounts that are collected to make financial statement called financial accounting.
- Managerial accounting reports about the issue and obstruction that are occurring in the business processes and the measure to fix it are planned whereas financial accounting deals with profit generation .
- Managerial account processes by accounting every level of business internally but financial accounting look business as a whole level.
The right answer for the question that is being asked and shown above is that: "<span>B. debit to Sales Returns and Allowances for $125.00. " </span>Five necklaceswere returned prior to payment. The entry to record the return would include a B. debit to Sales Returns and Allowances for $125.00.
Answer: Option A
Explanation: Any person can become a principal having sufficient business but in order to become an agent of the principal one needs to have the capacity to contract on behalf of the principal.
In a principal agent relationship, the principal bounds the agent to act on his behalf. So, there is no legal contracts to become a principal but the acts of agent are legally bound to a certain extent.
Hence, option A is correct.
