The interest a buyer has in real estate once a purchase agreement has been accepted and signed, but not closed, is called:

A. Simple interest.
B. Equitable title.
C. Legal title.
D. Adjustable interest.

Answer: B. Equitable title.

Business

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Which of the following represents a permanent difference?

a. Point-of-sale revenue recognition for financial reporting purposes, installment method for tax purposes b. Goodwill amortization deducted on the tax return but not amortized for financial reporting purposes c. Straight-line depreciation for financial reporting purposes, accelerated depreciation for tax purposes d. Carryback, carryforward option for taxes, no such option for financial reporting purposes

Business

An email message with the subject of "Crescent City Grill Launch Party" should have which of the following as its first sentence?

a. Please remember to include the mayor on the guest list. b. Attached are the notes from our Monday meeting discussing the launch party of the Crescent City Grill on March 3. c. BTW, what time did we decide for the buffet to open? d. The meeting notes are attached.

Business