A subdivider needs to give a copy of the final public report to a buyer and obtain a receipt from the buyer before entering into a binding contract. How long does the subdivider or their agent need to keep a copy of the receipt for the final public report?

a. One year.
b. Three years.
c. Five years.
d. Eight years.

Answer: b. Three years.

Business

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Popson Inc. incurred a material loss which was not unusual in character, but was clearly an infrequent occurrence. This loss should be reported as:

A. An extraordinary loss. B. A separate line item between income from continuing operations and income from discontinued operations. C. A separate line item within income from continuing operations. D. A separate line item in the retained earnings statement.

Business

B2B order fulfillment commonly uses business process management software to automate various steps in the process

Indicate whether the statement is true or false

Business