An abstract of title issued by a title insurance company is:

a. a boilerplate industry form.
b. functions as a preliminary title report.
c. defines the physical borders of the property.
d. a written summary of documents shown in the title history of the property.

Answer: d. a written summary of documents shown in the title history of the property.

Business

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MacLean Corp purchased a mine on January 1, 2016, for $500,000

The mine is estimated to contain 30,000 tons of iron ore. There is no residual value. The business has extracted and sold 2,500 tons of ore in 2016. Prepare the journal entry to record depletion expense for 2016. (Round your intermediate calculations to the nearest cent.) What will be an ideal response

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A segmentation approach to the market is more efficient than a mass marketing approach because:

A) money is spent only on those whom the manager has determined are potential customers. B) it creates entry-barriers. C) customers are homogeneous. D) production costs for standardized products are minimal in comparison to customized products.

Business