Which of the following is true of an assignment of a right?
A) Unconditional assignment of a contract right retains all the assignor's rights.
B) The obligor is entitled to performance from the assignor.
C) The assignor loses the right to sue the obligor directly for nonperformance in an unconditional assignment.
D) The obligor cannot raise personal defenses against the assignee.
C
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Brewed Awakenings, Inc., issued 1,000 shares of its 5%, $100 par value, cumulative preferred stock for $100 per share. The journal entry to record this event includes a ______
a. $100,000 debit to Cash b. $100,000 credit to Cash c. $100,000 credit to Preferred Stock d. $5,000 credit to Preferred Stock e. $95,000 credit to Preferred Stock f. $95,000 debit to Cash
A building valued at 195,000 has a gross income of 27,000 and expenses of 45% what is its cap rate?
A) 6.2% B) 7.6% C) 13.8% D) 45%