What are the two ways that the payoff conditional on default can be expressed?
What will be an ideal response?
The recovery rate is the amount the debt holders receive as a fraction of what they are owed. The loss given default is the difference between the amount owed and the amount received.
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The Subdivision Map Act assigns primary responsibility for the physical aspects of subdivisions to:
A. the Real Estate Commissioner B. the local city or county C. the state Land Commissioner D. the Commissioner of Corporations
Penalties may be imposed on a tax return preparer for an understatement of tax liability because of a position for which there is not a reasonable belief that there is substantial authority that the position will be sustained on its merits. But the penalties may be excused if
A. The preparer knew or should have known of the position. B. The position was disclosed. C. The understatement was unintentional. D. There is reasonable cause and good faith.