Under the installment-sales method, companies defer revenue and income recognition until the period of cash collection.

When legal title is transferred as the result of that sale of real estate encumbered by a deed of trust, it is always necessary to:

a. pay off the beneficiary b. obtain the consent of the beneficiary c. completely refinance d. have the grantor deliver a deed

The broker, in a single-party listing, should make sure to have a 120-day holdover period.

a. true b. false