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algol13
1 year ago
8

Jim and Evan enter into a real estate contract. The contract allows Evan to get a mortgage at 5% interest. But after due diligen

ce, Evan can only get a mortgage at 8% interest. What will happen to the real estate contract
Business
1 answer:
Lina20 [59]1 year ago
3 0

Since Evan can only get a mortgage at 8% interest instead of at 5%, the real estate contract suffers <u>termination by contingency</u>.

<h3>What is a contingency?</h3>

A contingency in a real estate contact is a term that is required to happen before its closing.  

Thus, termination by contingency will allow Jim to terminate the contract without consequences.

Learn more about termination by contingency at brainly.com/question/19567994

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Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have the
Allisa [31]

Answer:

Cobras Incorporated

Trial Balance as at March 31.

                                             Debit          Credit

Supplies                                 $1,100

Buildings                             $41,000

Cash                                      $2,100

Accounts Receivable          $2,800

Prepaid Insurance                 $1,100

Salaries Payable                                        $300

Accounts Payable                                   $1,500

Common Stock                                      $21,000

Retained Earnings                                 $14,500

Service Revenue                                    $18,100

Utilities Expense                 $2,300

Salaries Expense                $5,000

Totals                                 $55,000     $55,000

Explanation:

A Trial Balance is used to check mathematical accuracy in ledger Accounts. It represents a list of Balances : Debit and Credit extracted from the Ledger Accounts.

7 0
2 years ago
Which is true about what a customer typically expects from a support technician?
vodomira [7]
<span>A customer expects a support technician to be knowledgeable, patient, and friendly. The support technician must be knowledgeable to the degree that they solve the issue at hand, but can also give basic information to a customer.</span>
3 0
2 years ago
Investors in closed-end funds who wish to liquidate their positions must a.sell their shares to other investors. b.sell their sh
Molodets [167]

Answer:

The correct answer is letter "A": sell their shares to other investors.

Explanation:

Closed-end funds are pools of assets that at the beginning raise a fixed amount of income thanks to an <em>Initial Public Offering</em> (IPO) and later on trades in a public stock exchange. Close-end funds are said to provide higher returns than open-end funds. <em>When investors have a position with a closed-end fund, to exit it the number of shares held must be sold to another investor.</em>

6 0
3 years ago
Bostian, Inc. has total assets of $660,000. Its total debt outstanding is $185,000. The Board of Directors has directed the CFO
RideAnS [48]

Answer:

Company must add $178,000 more debt to achieve the target debt ratio

Explanation:

Debt to asset ratio = (Total outstanding liabilty / Total Assets) x 100

Current Debt to asset ratio = (185,000 / 660,000) x 100 = 28%

Target debt to asset ratio = 55%

According to given condition

55% = Total outstanding debt / 660,000

Total outstanding debt = 660,000 x 55%

Total outstanding debt = $363,000

Additional debt for taget debt to assets ratio = $363,000 - 185,000

Additional debt for taget debt to assets ratio = $178,000

6 0
3 years ago
To motivate employees to perform better, the human resources department of Martianse, a chain of retail apparel stores, replaced
Lynna [10]

Answer:

- Behavioural Substitution

Explanation:

Martianse human resources department uses and deploy the concept of Behavioural Substitution.

To begin, Martianse goal, as a firm, is to motivate the employees to perform better. Hence, the human resources department has come up with measures to achieve that. It is thus believed that replacing the fixed incentive system hitherto known with the firm, should be replaced by a performance based system. By this, the firm believes its primary goal will be accelerated.

Behavioural Substitution is thus the concept that the human resources department has displayed in their analysis and engagement. For one, behavioural substitution is simply the procedures aimed at replacing and/or supplanting efforts and actions that does not lead to goal accomplishments. By general belief, the old style of reward system used by Martianse has been seen as one not leading to goal actualization. Hence, it is important to substitute this non productive reward system with one established to elicit more better and improved performance from the workforce.

7 0
3 years ago
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