1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
fgiga [73]
2 years ago
6

What term best describes the borrower who is personally liable for a debt obligation related to the purchase of a home?.

Business
1 answer:
Firlakuza [10]2 years ago
7 0

It can be deduced that a situation where the borrower is personally liable for a debt obligation when buying a home is known as a recourse loan.

<h3>What is a recourse loan?</h3>

It should be noted that a recourse loan simply means a situation when the borrower is personally liable for payment of all amounts that are due under the terms of the note.

In this situation, when a property that is encumbered by a mortgage is sold for an amount that is more than the value of the mortgage, then the mortgagor will not be obligated to pay the mortgagee the balance that's remaining.

Learn more about loan on:

brainly.com/question/1348326

You might be interested in
When a company's only potential common shares are convertible bonds:A. Diluted EPS will be greater if the bonds are actually con
geniusboy [140]

Answer:

Correct answer is (C)

Explanation:

Diluted EPS will be the same whether or not the bonds are converted.

Earning Per Share EPS

8 0
3 years ago
If a journal entry and posting for the use of office supplies during the year is accidentally omitted, what would be the impact
jolli1 [7]
<span>It is imperative to have accurate information when completing year end financial statements. If a journal entry and posting for the use of office supplies was omitted in error, the financial statements would not be complete, and the company could possibly lose out on a tax deduction.</span>
4 0
3 years ago
The textbook refers to a single question that was used to measure happiness. The question was: ""Imagine a ladder with steps num
BigorU [14]

Answer:

Cantril Ladder

Explanation:

Cantril ladder approach was developed by Hadley Cantril. The approach is a method of assessing the well being of individuals. The cantril scale is represented by an imaginary ladder with steps numbered from 1 to 10 wherein each step denotes a happiness level.

For example, level one would relate to poor well being i.e the case of individual being least happy whereas level 10 would represent highest satisfaction in life and happiness.

As per the research conducted across the globe, the cantril scale of well being and happiness correlated really well with the income of the respondents indicating, that well being and happiness are directly related to an individual's income level.

4 0
4 years ago
Assuming a FICA tax rate of 7.65% on the first $117,000 in wages, 1.45% on amounts in excess of $117,000, and a federal income t
Sergeeva-Olga [200]

Answer:

Net pay   $134,136

Explanation:

The computation of the net pay for the year is given below:

Gross Pay                $180,000

Less:

FICA taxes  

On $117000 = 7.65%   $8,950.5  

On (($180,000 - $117,000) × 1.45%) $913.5

Federl income tax  (20% of $180,000)  $36,000

Net pay   $134,136

6 0
3 years ago
What is a credit union?
KIM [24]
D.) A cooperative lending institution for a particular group.


Typically, you must be a member to participate in a credit union.
4 0
4 years ago
Read 2 more answers
Other questions:
  • Which of the following is an example of an illegal interview question?
    15·2 answers
  • When a producer wants to give its products the widest possible exposure is the marketplace, it chooses intensive distribution?
    11·1 answer
  • Suppose that Dr. Reilly owns a medical clinic and he enters into a contract to buy 500 tablets of Gensol from Pharzime. Part of
    10·1 answer
  • A newspaper article once reported that the u.s. economy was experiencing a low rate of inflation. it said that "low inflation ha
    8·1 answer
  • Management at work you are the proud owner of a small vintage clothing store. your store, fantastic 40s, specializes in clothing
    9·1 answer
  • An assembly line with 30 activities is to be balanced. The total amount of time required for all 30 activities is 45 minutes. Th
    12·1 answer
  • Discuss how the poverty issues can be a challange to social responsibility?
    10·1 answer
  • Walter receives cash of $18,000 and land with a fair market value of $75,000 (adjusted basis of $50,000) in a current distributi
    5·1 answer
  • The information below pertains to Barkley Company for 2015.
    15·1 answer
  • Which of the following is true about cover letters?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!