Choose the One Most Appropriate Answer for Each

question 41

Multiple Choice

Choose the one most appropriate answer for each.
-money that accompanies an offer to purchase as evidence of good faith

• A)"as is"
• B)bill of sale
• C)binder
• D)closing date
• E)delayed exchange
• F)dry rot
• G)earnest money deposit
• H)equitable title
• I)installment contract
• J)lease-option
• K)letter of intent
• L)loan commitment
• M)optionee
• N)option fee
• O)prorating
• P)purchase contract
• Q)qualified intermediary
• R)right of first refusal
• S)"time is of the essence"
• T)vendee

---

Definitions:

Total Assets

The sum of all assets owned by a company, including cash, investments, equipment, and real estate.

EBIT

Earnings Before Interest and Taxes, a financial metric that calculates a company's profitability based on operations, excluding interest and taxes.

Capital Structure

The mix of a company's long-term debt, specific short-term debt, common equity, and preferred equity, which is considered when financing its overall operations and growth.

Economic Expansion

A phase of the business cycle where economic activity is increasing, characterized by higher production, employment, and income.