A licensee is helping her buyer purchase some property. The buyer would like to make an offer on a corner lot that may have once been used as a storage site for a heating oil company. The Licensee should advise her uyer to:
A. consult with an environmental expert
b. request a spot zone
C. seek tentative approval from the Environmental Proptection Agency
D. use a condemnation clause in the offer
Answer: A. consult with an environmental expert
expert could conduct tests whether the soil has been contaminated and determine any abandoned undergournd storage tanks. Buyer does not need EPA approval before buying a site that may have been contaminated.
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On Friday, Josie receives her paycheck and goes directly to the bank after work to make a deposit into her savings account. The bank keeps the required reserve and then loans out the remaining balance to a qualified borrower named Juan as a portion of his small business loan. Juan uses the loan to buy a new copy machine for his printing business and makes small monthly payments to the bank to payback the principal balance plus interest on the loan. The bank profits from a portion of the interest payment received and also passes some of the interest back to Josie in the form of an interest payment to her savings account. In this example, the bank is acting:
On October 15, Manx Company bought 400 shares of its own stock for $16 per share. Show how this transaction affects the accounting equation. Include both account titles and amounts
Shareholders' equity Assets Liabilities Contributed capital Retained earnings What will be an ideal response?