Choose the Word or Phrase in [ ] Which Will

question 76

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The purchase price of the house you are buying is $180,000.A loan-to-value ratio of 90% will produce a mortgage amount of [$162,000 | $180,000].

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Definitions:

Extraordinary Item

A term previously used in accounting for events and transactions that were both unusual in nature and infrequent, which is no longer preferred under most financial reporting frameworks.

Component Disposal

The act of selling or otherwise disposing of a distinct part of a company's assets, often as a part of operational restructuring.

Termination Pay

Compensation given to an employee when their employment ends as per the terms of their work contract, often depending on the duration of employment.