During a sales escrow, the escrow officer receives two structural pest control reports. The escrow officer should:
A: Contact the inspection companies to determine which one is most recent and use that one;
B: Send the report that requires the most work to the buyer and obtain his approval;
C: Notify the broker and obtain written instructions from buyer and seller concerning the reports;
D: Request the broker to find out from the seller which report to use.
Answer: C: Notify the broker and obtain written instructions from buyer and seller concerning the reports;
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The replacement cost of an inventory item is $50. Net realizable value is $55. Net realizable value less a normal profit margin is $46. The cost of the item is $5. The inventory item would be valued at:
a) $46 b) $50 c) $51 d) $55
Restrictive administrative and technical regulations can create barriers to trade which may take all of the following forms except:
A) antidumping regulations. B) product size regulations. C) safety and health regulations. D) common agricultural policies. E) safety and pollution regulations.