Kelsey, a Seller, Signs Two Open Listing Agreements with Two

question 18

Multiple Choice

Kelsey, a seller, signs two open listing agreements with two brokers, Ryan and Nicole.Ryan is the first to find Marissa a potential buyer, who agrees to buy the property if a suitable closing date can be worked out.Without Ryan's knowledge, Nicole later strikes a deal with Marissa to close earlier and persuades her to sign the contract to buy Kelsey's home.In this situation the commission would go to:

• A)Ryan.
• B)Nicole a
• C)Ryan and Nicole would split it 50/50.
• D)Neither

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Definitions:

Direct Materials Purchases Budget

A budget that estimates the quantities of direct materials to be purchased to support budgeted production and desired inventory levels.

Sales Budget

A financial plan that estimates future sales volumes and revenues.

Capital Expenditures Budget

A budget that plans for investments in long-term assets like equipment, buildings, and machinery essential for the business's operations and growth.

Operating Budgets

Financial plans for the day-to-day activities of a business, outlining expected revenues and expenses.