Paris Company Buys a Building on a Plot of Land

question 53

Multiple Choice

Paris Company buys a building on a plot of land for $100,000,paying $20,000 cash and signing a 20-year mortgage note for $80,000 at 6%.Monthly payments are $570.
-The first monthly payment was made in January,2013.After the first payment,what is the updated principal balance?

• A) $79,430
• B) $79,600
• C) $79,830
• D) $79,440

Understand the techniques of building and maintaining goodwill in business communication.

Differentiate between appropriate and inappropriate levels of formality and politeness in business communication.

Implement positive emphasis techniques to present information in a more favorable light.

Organize information in business documents to prioritize audience's needs and build goodwill.

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Definitions:

Disaffirm

The legal act of renouncing or rejecting a contract or agreement, often used in the context of minors' ability to void contracts.

Legal Guardianship

The legal authority granted to an individual to make decisions for and take care of another person, typically a minor or someone unable to manage their own affairs.

Voidable

Voidable refers to a legal status denoting that an agreement or transaction can be affirmed or rejected at the discretion of one of the parties involved.

Ratification

The act of officially approving or confirming an action, agreement, or decision, often after the fact, to make it valid and binding.