1)The closing is conducted by the seller’s agent. a. True
b. False
2) Select the list that has the steps of the closing process in the right order.
1. Do final walk-through Purchase homeowners insurance Sign closing documents. Apply for mortgage.
2. Apply for mortgage Do final walk-through Sign closing documents Purchase homeowners insurance.
3. Apply for mortgage Purchase homeowners insurance Do final walk-through Sign closing documents.
3) Select the best description of the mortgage note. 1.It commits you to paying your loan 2.It lists all costs associated with your loan4. Which one of these documents itemizes the closing costs and explains the terms of your loan?
a. Appraisal.
b. Closing disclosure.
c. Deed.
d. Affidavit.

Which of the following best explains why treasury bonds have an effect on the size of the money supply? a. the amount of treasury bonds in circulation affects both unemployment and inflation. b. the government can spend more money and charge lower taxes by using treasury bonds. c. the federal reserve bank can buy and sell these bonds to raise or lower bank deposits. d. the interest paid on treasury bonds influences the interest rates charged by private banks. 2b2t

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Carmen co. can further process product j to produce product d. product j is currently selling for $20 per pound and costs $15.75 per pound to produce. product d would sell for $38 per pound and would require an additional cost of $8.55 per pound to produce. what is the differential revenue of producing product d?