Paid the bondholders the amount due, face value plus accrued interest, using the sinking fund. Debit ________ & ________ Credit ________

Which of the following statements about option contracts is false?

a. An option contract can be assigned to a third party. b. A contract option can last for a maximum of 3 months. c. An option contract is a bilateral contract. d. There are no false statements: a, b and c are true

In estimating the value of Rafael's single-family dwelling, Broker Jones, the appraiser, uses the same monthly gross rent multiplier that has been computed for comparable properties in the same neighborhood. The comparable properties each have a rent amount of $300 monthly and recent selling prices of approximately $45,000. The owner's property is currently renting for $320 per month. The broker therefore would estimate the value of the property to be:

A: $45,000; B: $48,000; C: $51,000; D: $54,000.