To be the procuring cause of a sale,
A. the broker must have made the sale.
B. supplied the owner with the name of the purchaser.
C. initiated an uninterrupted chain of events that led to the sale.
D. made first contact with the buyer.
Answer: C. initiated an uninterrupted chain of events that led to the sale.
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Historical cost is the basis advocated for recording the acquisition of property, plant, and equipment for all of the following reasons except
a. at the date of acquisition, cost reflects fair market value. b. property, plant, and equipment items are always acquired at their original historical cost. c. historical cost involves actual trans¬actions and, as such, is the most reliable basis. d. gains and losses should not be anticipated but should be recognized when the asset is sold.
Explain the basic principle of the Loyalty Ladder
What will be an ideal response?