The Purpose of an Escrow Account Is to Pay the Points

question 79

True/False

The purpose of an escrow account is to pay the points at closing.

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Definitions:

Retained Earnings

Profits that are not distributed as dividends but are instead reinvested into the business.

Net Income

Net Income is the total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue.

Dividend

A portion of a company's earnings distributed to shareholders, typically in the form of cash or additional shares.

Treasury Stock

Shares of a company's own stock that it has repurchased from shareholders and can hold, reissue, or retire.