Kristen signs a one-year lease for a mobile home owned by Lamont. If Kristen dies during the lease term, the lease interest. 1. automatically renews 2. returns to Lamont 3. passes to Kristen's heirs as personal property 4. automatically expires
Q: Meir, Benson, and Lau are partners and share income and loss in a 2:3:5 ratio (in percents: Meir,…
A: Step 1: Preparation of journal entries.No.Account Titles and ExplanationsDebitCredit(a)Beson,…
Q: QUESTION 10 In order for a corporation to open a cash account, it would need to send a brokerage…
A: These are certain concept based mcq questions related to broker accounts, etc.
Q: Provide advice to Ella as how she can ensure that she has a valid will being that she is a 91 year…
A: "The solution has been provided in a generalized manner." Creating a valid will is an essential…
Q: 6 if an insured dies during the grace period of a life insurance policy before paying the required…
A: Understanding the implications of a life insurance policy during the grace period is crucial for…
Q: James sold his home for $379,000. If the real estate commission was 5.5%, how much commission did he…
A: The objective of the question is to calculate the real estate commission that James has to pay when…
Q: Your client John Smith ensures his condominium through the office for a comprehensive form subject…
A: The question involves determining the insurance recovery amount for John Smith, who has a…
Q: 1. Reinstatement of a life insurance policy requires an insured to take all of the following actions…
A: The question is asking which of the listed actions is not required for the reinstatement of a life…
Q: George has three children from a prior marriage and marries Wendy who moves into the family home.…
A: Estate planning is a crucial aspect of ensuring that one's assets are distributed according to their…
Q: Jean Miller purchased a $1,000 corporate bond for $881. The bond paid 3.1 percent annual interest.…
A: 1. Interest Earned:Annual interest rate: 3.1%Par value of the bond: $1,000Duration: 3 yearsAnnual…
Q: Rebecca, age 53, died suddenly of a heart attack. She leaves behind her husband Chris and her three…
A: Rebecca, aged 53, passed away suddenly without leaving a will. She is survived by her husband,…
Q: 4 which of the following policies allows the insured to continue the policy at the end of the policy…
A: The objective of the question is to identify the type of insurance policy that allows the insured to…
Q: Dave borrowed $700 on January 1, 2022. The bank charged him a $9.00 service charge, and interest was…
A: To calculate the Annual Percentage Rate (APR) on the loan Dave took, we need to consider the total…
Q: 1. Corporations and their unique characteristics True or False: If a corporation is unable to repay…
A: If a corporation is unable to repay its debts, the creditors to whom the debt is owed may sue an…
Q: Grantor has established a trust, naming a bank as trustee. Pursuant to the terms of the trust…
A: Estate Planning:It is a type of agreement where a person decides who will own and manage their…
Q: What should a Commercial Vehicle Operator's Registration (CVOR) include? Description of the nature…
A: The Commercial Vehicle Operator's Registration (CVOR) is a regulatory framework aimed at ensuring…
Q: Probate is a legal procedure that establishes the validity of a will and then distributes the…
A: A legal procedure that mainly determines the assets of the deceased person and who all are the…
Q: One of three tenants in your insured's rented triplex, sets fire to his apartment, is charged with…
A: Cancellation of Insurance Policy: Cancellation of an insurance policy refers to the termination or…
Q: Which one (1) of the following conditions affects the amount of settlement of an insured loss? OA)…
A: Insurance is an agreement between an insurance company (insurer) and an individual or entity…
Q: Explain the sources of income and expenses for an insurance company.
A: An insurance company is a financial institution that operates in an economy to provide several…
Q: BUSINESS • MANAGEMENT What are the pre requisite for consent to be free so that the agreement is a…
A: Contract A contract can be explained as a agreement between two parties, wherein one party…
Q: Amy and Bianca intended to form a company called Flexible Co Ltd to engage in trading. Before the…
A: First of all I would like to explain you about Lease Agreement. Lease Agreement is a written…
Q: A client is trying to decide whether or not to make a will. You educate your client on their options…
A: The objective of the question is to understand the possible outcomes if a person does not create a…
Q: Mark and Matt co-own an auto repair shop 50/50. They each schedule their own customers, use their…
A: Answer is B, Mark and Matt are co-owners of the property but run their businesses independently of…
Q: A shopping center investor bought a 36,000 square foot shopping center in Calabasas, California with…
A: A fixed-rate mortgage loan is a financial product offered by lenders to facilitate home purchases or…
Q: mnity and Contingency Ins
A: Represented in a form of policy, Insurance is a contract in which the individual or an entity gets…
Q: ! Required information [The following information applies to the questions displayed below.] Doyle…
A: Doyle Company Journal Entries (Year 1)Transaction: Issuance of Bonds and Investment in Land (January…
Q: One of three tenants in your insured’s rented triplex, sets fire to his apartment, is charged with…
A: In the aftermath of a tenant setting fire to their rented apartment, insurers often seek to mitigate…
Q: The date of death for a widow was 2021. If the estate was valued at $2,187,000 and the estate was…
A: To determine the heir's tax liability, we'll use the estate exemption available in 2021. Based on…
Q: Glen made a revocable transfer of his stock investments on February 14, 2022 in favor of his sister,…
A: When one person transfers property to another, taxes may be levied on the transfer. The type and…
Q: In which instance will business assets be included in the estate of the owner / partner/ shareholder…
A: Estate duty, also known as inheritance tax or estate tax, is a tax imposed on the total value of a…
Q: If an investor holds 50% or more of the investee's outstanding common stock, then the investor is…
A: In the corporate world, a subsidiary is a company that belongs to another company, which is usually…
Q: Which of the following statements is CORRECT about beneficiary dispon A ОВ Ос D. By naming an…
A: The objective of the question is to identify the correct statement about beneficiary disposition in…
Q: Brandon is going to get a 3% commission on the sale of a property for $300,000. How much is…
A: The objective of the question is to calculate the commission Brandon will receive from the sale of a…
Q: A shopping center investor bought a 36,000 square foot shopping center in Calabasas, California with…
A: Given information:Shopping center size: 36,000 square feetLocation: Calabasas, CaliforniaMortgage…
Q: Pls help ASAPon both pls
A: A form of protection known as property insurance protects people and companies against financial…
Q: No notice to terminate is required for a tenancy for years. O True O False
A: Tenancy is the legal agreement between a landlord and a tenant for the renting of real estate,…
Q: Which one (1) of the following statements is true about coverage for loss or damage caused by an…
A: Insurance is a type of contract in which the insurer re-imburses the poilyc holders of the financial…
Q: 90 questions remaining Which one (1) of the following situations may have an effect upon the premium…
A: DISCLAIMER “Since you have asked multiple questions, we will solve the first question for you. If…
Q: Flag for Re An individual health insurance policy contains a Change of Occupation provision. If the…
A: The question is asking about the implications of a Change of Occupation provision in an individual…
Q: Which one (1) of the following statements about "Section 6 - Direct Compensation-Property Damage…
A: Automobile insurance policies are agreements or contracts between individuals and insurance…
Q: What it is talking about? 1. Incorporation of a company Ø Minimum number of shareholders and…
A: Minimum number of shareholders and directors:Shareholders: These are the owners of the company who…
Q: What is the name of the clause that permits the lender to declare the entire unpaid balance…
A: The objective of the question is to identify the correct clause that allows a lender to demand the…
Q: Mario files for bankruptcy. He owns one car worth $2,000.00. He will O not have to list it as an…
A: Bankruptcy is a legal process that provides individuals or businesses relief from overwhelming…
Q: On January 1, 2019, Ballieu Company leases specialty equipment with an economic life of 8 years to…
A: In this case I see the risk and all other thing is transfered to the other person and Financial…
Q: Amanda was to be sent abroad to work for 2 years, therefore agrees to lease out her apartment block…
A: ANSWER IS AS BELOW:
Q: What are the steps in securing a new copy of lost or destroyed certificate of stock?
A: A certificate of stock is a legal document in the Philippines that represents ownership of a share…
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
