Which statement is TRUE of the rights and obligations during escrow?
A. The seller retains risk of property loss.
B. Rents belong to the seller.
C. Property expenses are the responsibility of the seller.
D. All of these are true.
Answer: D. All of these are true.
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You can continue to use your less efficient machine at a cost of $8,000 annually for the next five years. Alternatively, you can purchase a more efficient machine for $12,000 plus $5,000 annual maintenance. At a cost of capital of 15 percent, you should:
A) keep the old machine and save $388 in equivalent annual costs B) buy the new machine and save $388 in equivalent annual costs C) buy the new machine and save $600 in equivalent annual costs D) keep the old machine and save $580 in equivalent annual costs
Beginning inventory plus net cost of purchases equals
A. ending inventory B. cost of goods sold C. cost of goods available for sale D. freight in