Which of the Following Is True of a Land Contract

question 32

Multiple Choice

Which of the following is true of a land contract?

• A) The seller agrees to convey the title when the full price is paid.
• B) The trustee holds legal title to the property put up as security.
• C) If a buyer defaults, the seller does not have the right to declare a forfeiture.
• D) The title to property is conveyed if partial payment has been made.

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Definitions:

Gross Sales

The total sales revenue of a company without any deductions for returns, allowances, or discounts.

Indirect Advertising Costs

Expenses related to advertising that are not directly associated with a specific advertising medium or campaign, such as salaries of marketing staff or overhead costs.

Allocated

The process of apportioning resources, costs, or expenses to specific projects, departments, or cost centers.

Gross Sales

The total sales revenue of a business before any deductions are made for returns, allowances, and discounts.