List four components of a loan contract
What will be an ideal response?
Answer: Amount of loan, interest rate, loan repayment schedule, length of loan, collateral. There may be other acceptable answers in addition to the above.
You might also like to view...
Which of the following terms refers to any salary increase the firm awards to an individual employee based on his or her individual performance?
A) competency-based pay B) variable pay C) merit pay D) base pay
Harrison Corporation sells a building for $330,000 in the current year. Harrison purchased the building in 2008 for $250,000 and had taken $20,000 in depreciation on the building up to the date of its sale. How should Harrison report the gain on the sale of the building?
a. Section 1231 gain of $100,000. b. Ordinary income of $100,000. c. Section 1231 gain of $80,000 and ordinary income of $20,000. d. Section 1231 gain of $96,000 and ordinary income of $4,000. e. Ordinary income of $96,000 and Section 1231 gain of $4,000.