On the preliminary settlement statement, a certain expense item is shown as POC. Who cares the most

Fantastic news! We've Found the answer you've been seeking!

Question:

On the preliminary settlement statement, a certain expense item is shown as POC. Who cares the most about this item, and why? a. Seller, because it indicates a seller expense b. Buyer, because it can be cleared as a contingency c. Lender, because it can signal a potential priority lien d. Settlement agent, because it decreases gross funds payable at closing

Posted Date: May 18, 2024 07:09 PM

See More Questions

Write a paper on the brothers karamazov, fyodor dostoyevsky creates a conversation between two brothers: the cynical ivan, and the devoutly religious and earnest alyosha. In their dialogues...
How should preferred stock of a subsidiary be shown in a consolidated balance sheet in each case? (a) If it is held 100 percent by the parent (b) If it is held 50 percent by the parent and 50 percent...
In connection with your audit of Z Company for the year ended December 31, 19XX, you find that as a result of an improper cutoff of inventory shipments at the end of the year, approximately \(\$...
Amortization of Premium Assume the same set of facts for Ortega Company as in Problem 10-2A except that the market rate of interest of January 1, 2008, is 4% and the proceeds from the bond issuance...
The Clark County Sheriffs Department schedules police officers for 8-hour shifts. The beginning times for the shifts are 8:00 A.M., noon, 4:00 P.M., 8:00 P.M., midnight, and 4:00 A.M. An officer...
Can company purchased in 1 1 ? 2 0 2 3 8 0 % of SAN outstanding shares by issuing 5 0 0 , 0 0 0 shares at par value 5 $ , and was traded at the market 8 $ . During the year 2 0 2 3 CAN company sold...
A company has 4 5 0 0 shares of common stock with par value of $ 2 per share. The stock split 2 : 1 . What is the new number of shares after split?
Module: Effectiveness in management Topic: communication in organizations. Communicating with individuals from different cultural backgrounds is a significant barrier to international trade. Not...
1)Differentiate between external financing, internal financing, leasing, and equity capital. 2)What factors would tend to make leasing more desirable than owning? 3)What are the differences between a...
How do you ensure accuracy and accountability when handling and distributing equipment and supplies?
The companyis evaluating two specific proposals to market a new proposal. The current interest rate is 10 %. Proposal A calls for setting up an in-house manufacturing shop to make the product,...
How core capabilities and competitive advantages affect BHP's strategy: What are BHP's core competitive advantages and competencies? How sustainable are these advantages and capabilities? Critically...
Operating Activities Analysis Exercises and Problems Using the Balance Sheet and Income Statement data below, analyze the transactions for Tolito Treats, Inc. for 2013 and 2014. 2013 2014 Cash...
Prairie Outfitters, Inc., a retailer, accepts paymnent through credit cards. During August, credit card sales amounted to $12,000. The processor charges a 3% fee. Assuming that the credit card...
Explain what is meant by feedforward control and distinguish it from feedback control. R-1
Computing Ending Balance of Retained Earnings LO1-1 Sultan Inc. was organized on January 1, 2020. It reported the following for its first two years of operations: Required: Compute the ending balance...
What is meant by a variance? What is the point in analysing variances? R-2

On the preliminary settlement statement, a certain expense item is shown as POC. Who cares the most

Question:

Expert Answer:

Students also viewed these accounting questions