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Mandarinka [93]
2 years ago
5

Sanjeev leases a house from Clara, and the lease has an option contract attached that permits Sanjeev to buy the house if he cho

oses to exercise the option within three years. How large does the option fee need to be in order to be legally binding
Business
1 answer:
Aleksandr-060686 [28]2 years ago
8 0

The amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

<h3>What is a lease agreement?</h3>

A lease agreement is a legal arrangement whereby a person give another person the right to possess the land for use in return for a periodic compensation.

However, the lease agreement can lead to permanent purchase, based on the agreement of the lease.

In conclusion, the amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

Read more about lease agreement

<em>brainly.com/question/24460932</em>

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An insurance policy written after 1988 that fails to pass the seven-pay test is known as
Zigmanuir [339]
The answer to this question is a modified endowment contract. A modified endowment contract or MEC is a type of life insurance policy where in the policy/ insurance is being funded with more money or the insurance premium payment exceeds the amount allowed under the federal law. The modified endowment contracts are taxable.
3 0
3 years ago
Assume real per capita GDP in West Swimsuit is $10,000 while in East Quippanova it is $2,500. The annual growth rate in West Swi
Alex787 [66]

Answer:

correct option is B. about 30 years

Explanation:

given data

real per capita GDP west = $10,000

annual growth rate = 2.33%

real per capita GDP east = $2,500

annual growth rate = 7%

to find out

How many years will it take for East  to catch up GDP of West

solution

we know here that future value is equal to real GDP of west after time  will be

future value = real per capita GDP west × rate^{t}

future value = 10000 × (1+0.0233)^{t} .....1

and

future value = real per capita GDP east × rate^{t}

future value = 2500 × (1+0.07)^{t} .....2

compare equation 1 and 2

10000 × (1+0.0233)^{t}  = 2500 × (1+0.07)^{t}

4 (1.0233)^{t}  =  (1.07)^{t}

t = about 30 years

so correct option is B. about 30 years

5 0
3 years ago
Any comparison of the advantages of one family structure over another depends partly on the parents and partly on the:
sergey [27]
The comparison will depend partly on the parents and partly on the CULTURE IN WHICH THE FAMILY LIVES. A child economic and social well being depends on a number of diverse factors, one of these is family structure. When comparing the economic wellness of children from different family structure, the culture in which the families live is also a significant factor which must also be considered.
6 0
3 years ago
Assume US GAAP to answer this question.In 2017, $2 million in wages were earned and no cash wages were paid.In 2018, $8 million
solniwko [45]

Answer:

The right answer is A. Liabilities increased by $1.0 million in 2018

Explanation:

During 2017 and 2018, we have the following information:

+ In 2017, there is $2 million wages earned but not yet paid, so, Wages payable at the end of 2017 should be amounted to $2 million.

+ In 2018, there is another $8 million wages earned. At the same period, there is $7 million wages paid which is distributed as followed: $2 million to clear all Wages payable in 2017 and the other $5 million to clear $5 million out of $8 million wages payable in 2018. So, the only wages liability outstanding at the end of 2018 is the amount of $3 million earned in 2018 but not yet paid ($8 million - $5 million).

=> Liabilities in 2018 increases $1.0 million in comparison with the year 2017 ( $3 million - $2 million).

3 0
3 years ago
During September at Renfro Corporation, $65,000 of raw materials were requisitioned from the storeroom for use in production. Th
horrorfan [7]

Based on the amount of raw materials requisitioned, the journal entry to debit the Manufacturing Overhead would be $4,000.

<h3>What amount would be debited to manufacturing overhead?</h3>

The manufacturing overhead is for expenses that are not directly involved in the manufacturing process.

This is why it is the indirect material amount of $4,000 that will be debited to the manufacturing overhead account.

Find out more on manufacturing overheads at brainly.com/question/13312583.

#SPJ12

7 0
2 years ago
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