In the sale of a parcel of vacant land, the responsibility of determining whether development of the property is feasible rests in the:

A. Buyer
B. Seller
C. Selling agent
D. Listing agent

Answer: A. Buyer

Business

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In the case of a destination contract, the risk of loss passes to the buyer ________

A. when the goods are handed over or placed at his disposal at that place B. as soon as he/she accepts the contract in writing C. when the goods are handed over to the first carrier for shipment D. at the time the contract is concluded

Business

In a cash remittance processing, the open-items accounts receivable file serves as the

A) billing data. B) credit sales journal. C) accounts receivable control account. D) subsidiary accounts receivable ledger.

Business