A house sold for $109,000 with the buyer making a 20% downpayment. The grantor's tax is based on the:

a. down payment
b. loan amount
c. selling price
d. none of the above

Answer: c. selling price

Business

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Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 18.00%, with interest paid monthly, what is the card's Effective Annual Rate%?

A) 18.58% B) 19.56% C) 20.54% D) 21.57%

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The best method to determining weights for the stand-alone revenue-allocation method is ________

A) selling prices revenue-allocation method because the weights explicitly consider the prices customers are willing to pay for the individual products B) unit cost revenue-allocation method because it can be used on all occasions C) the direct revenue-allocation method since selling prices or unit costs are difficult to calculate for individual products D) physical-units revenue-allocation method because the physical units explicitly value the prices customers are willing to pay for the individual products

Business