Answer: Loan
Explanation: In simple words, loan refers to lending of money by one entity or a group of entities to some other party. The individual or organisation taking the loan have to repay it in installments in a specified period. The installment repaid is a sum of principal and the interest charged.
In the given case, Lois borrowed money from a bank and is liable to repay that loan within a specified time period.
Hence from the above we can conclude that the correct option is B.
Answer: April 2024
Explanation:
Based on the information given in the question, at a minimum, the appraiser must retain his workfile till April 2024.
It should be noted that appraisal records should be kept for at least a period of 5 years. In a situation whereby there is a report which is involved in the litigation, then such file must be maintained for a further two years. This is according to the Uniform Standards for Professional Appraisal Practice Record Keeping Rule.
Answer: Yes, because it is a contract whose terms prevent possible performance within one year
Explanation:
The Statute of Fraud mandates that certain contracts need to be written down. These contracts include the sale of land, amounts involving more than $500 and contracts that have a timeframe of over a year.
Melinda entered into a contract with terms that have to be fulfilled in more than a year. It is therefore under the Statute of Frauds.
Answer:
reduce output
Explanation:
The marginal cost ($26) is greater than the marginal revenue ($25). In order to maximise profit, marginal cost should he reduced up to the point where marginal cost equals marginal benefit.
A firm should shutdown, reduce production to zero if average variable cost is greater than price but in this question, the firm shouldn't shut down since price ($25) is greater than average variable cost ($24).
I hope my answer helps you
