A property's annual property taxes equaled $7,560. The seller owes the buyer for 20 days of prorated property taxes. Using the 360-day calendar, how much does the seller owe the buyer? $420 $1,950 $360 $2,100

A property's annual property taxes equaled $7,560. The seller owes the buyer for 20 days of prorated property taxes. Using the 360-day calendar, how much does the seller owe the buyer? $420 $1,950 $360 $2,100

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A contract with a vendor stipulates a cost plus incentive fee contract. The contract has a target cost of $150,000. The vendor’s target profit is set at 10% and the share ratio is 80/20. The minimum fee the seller will accept is $12,000 and the maximum fee you are willing to pay is $20,000. The actual cost of the contract ends up being $175,000. What is the total cost of the contract to the buyer? $195,000 $167,000 $185,000 $187,000
Explain what to look for in selecting a rental and the procedures for renting. Please complete your responses in complete sentences.
ABC Construction Company is awarded a contract to build a residential housing complex for XYZ Developers. The parties agree to a fixed price for the entire project, and the contract specifies that ABC Construction will be paid a lump sum upon completion. However, during the construction process, unexpected changes in material prices and labor costs significantly increase the expenses for ABC Construction. The company finds itself facing financial difficulties as it struggles to cover the additional costs without exceeding the fixed contract price. In this scenario, how does the lump-sum contract protect ABC Construction Company's interests? What options does ABC Construction have to address the increased project costs while adhering to the terms of the contract? How can ABC Construction negotiate with XYZ Developers to ensure a fair resolution and avoid incurring losses? Hint: Please note that the answer to this case-based question would focus on the advantages and considerations…
Josue is purchasing a condo from a developer. When he signs the contract, the developer gives him a packet of condo documents (and he signs for their receipt). How many days after that will he have to cancel the contract? 30 20 15 10 +
Sun TV sells TV sets. It does not sell smart TVs so customers do not come to Sun TV if they want to purchase smart TVs. Sun TV wants to start selling smart TVs and will only sell smart TVs to customers to whom they advertise. Managers use customer information (income level, previous purchase history) to decide which customers they should target. The team needs to decide how sure it must be in predicting customer interest in a smart TV. If it is too cautious, it will choose a very high cutoff probability and only market to customers who it believes are very likely to be in the market for a smart TV. This may cause them to miss out on many customers. If they are too aggressive and choose a low cutoff probability, they may identify more individuals interested in buying smart TVs but also end up wasting marketing dollars on customers who are not interested in purchasing smart TVs. To choose a cutoff probability, the team develops the confusion matrices below for two cutoff probabilities on…
A buyer generally prefers an asset sale to get better depreciation deductions post sale. True False
Your insureds occupy a single family detached dwelling. For economic reasons, they are considering renting the finished basement to a tenant. What affect will this have on their Homeowners Policy? O A) None at all. Renting part of a dwelling is not considered a commercial activity. O B) They will have to install a smoke detector in the basement and the policy will then be in full force. O C) The policy will have to be cancelled and re-issued on a Secondary Dwelling form. O D) The policy must be endorsed to declare it is no longer a single family, owner- occupied dwelling."
A pilot for a private jet stops for refueling in San Antonio. Topper Fuels offers him a case of premium Tequila to refuel with them (a total retail value of $423 to the pilot). For refueling, inspections, and minor repairs, Topper charges $2,900, over $400 more than the least expensive fuel company. What has happened to the company that owns the private jet
Hill's Hardware Store is offering an incentive to customers. For every snowblowerr purchased at Hill's Hardware the customer will recieve a voucher for $25 off a future purchase. Each sale of a snowblower also includes complimentary maintenance. The maintenance can be performed by other vendors but most customers choose to have the maintenance done by Hill's Hardware. The snowblowers also include a one year warranty against any defects in workmanship without any additional charge to the customer. Assume you purchase a lsnowblower from Hill's Hardware. You leave the store with the snowblower and the voucher for $25 off a future purchase. How many performance obligations does Hill's Hardware have for this transaction? Question 18 options: a) 1 b) 2 c) 3
Government officials must decide how to reduce the amount of Magentum being adulterated in the future. According to Becker, which of the following are options that could get the same expected cost of crime commission? 1 - Increase the probability of detection and conviction and combine that with a low sanction. 2 - Change the opportunity cost of the crime. 3 - Keep a low risk of probability of detection and conviction but impose a very high sanction. 1 and 3 1, 2, 3 1 and 2 2 and 3
A local Marshalls is selling a suit for $99. Because of changing styles, the first markdown was 8% and second markdown was 25%. The suit still did not sell, so a final markdown of 10% was taken. The sale price is currently: A. None of these B. $68.31 C. $61.48 D. $86.31 E. $61.84
A seller paid $1,200 in HOA fees at the beginning of the year. The buyer closed on the property and took possession on June 1st. Using the 360-day calendar, how much would the buyer owe the seller in prorated HOA fees? $200 $700 $600 $1,200