Which of the following is not a fixed cost?
Depreciation on factory equipment
Property taxes on factory building
Property insurance on factory building
Payroll taxes on factory employees
Which of the following describes how property taxes work?
(Check all that apply.)
a
Property taxes are a percentage of the assessed value of
residential and/or commercial property.
b
Like NH, Massachusetts has both state and local property
taxes.
c
For residential property, tax rates tend to be about 1-3%
(annually) of a home's assessed value.
d
Local taxes (such as property taxes) and fees, are used to fund
local schools, roads, police, courts, trash collections, etc.
e
A town...
Which of the following is not an example of property and
liability insurance?
a. Liability to others
b. Umbrella insurance
c. Homeowner’s insurance
d. All of the above are examples of property and liability
insurance
e. None of the above is an example of property and liability
insurance
Category Cost: Rent Monthly, cost $3000, Utilities Monthly
$1100, Insurance Quarterly $1200, Property Taxes, annually $6000,
Steel per shelf $9.00, forming per shelf $.25, Labor per shelf $.75
Price charged per shelf $20.00 This company will break even with
monthly production of ____ units, and sales of __________
250; $5000
!0,000; $500
$5000; 250
500; $10,000
Economic principles of property taxes.
Find the answers to the following questions about property
taxes: in Ohio. (MUST BE OHIO).
1. What property classifications are used?
2. Who is responsible for assessing property values?
3. How often are assessments redone?
4. What assessment ratio is used?
5. What property tax relief does Ohio provide?
which of the following is a modification to a standard property
or liability insurance contract?
a. a policy rider
b. policy declarations
c. policy endorsement
d. policy conditions
1. Which of the following would not be included in the Land
account?
A.back property taxes paid
B.brokerage commissions connected with the purchase of the
land
C.paving costs for a driveway
D.survey fees connected with the purchase of the land
2.Which of the following expenses is most closely associated
with tangible
longminus−lived
assets?
A.depletion
B.interest
C.accumulation
D.depreciation
3.Which of the following statements is true?
A.Depreciation means that a business sets aside cash to replace
assets as they become fully amortized....
Sally owns real property for which the annual property taxes are
$16,680. She sells the property to Kate on April 2, 2020, for
$834,000. Kate pays the real property taxes for the entire year on
October 1, 2020. Assume a 365-day year. Round any division to four
decimal places. Round your final answers to the nearest dollar. a.
How much of the property taxes can be deducted by Sally and how
much by Kate? Sally can deduct $____ and Kate...
Determine the payment, excluding
taxes, PMI and property insurance,
On a $175,000 loan based on the
following terms: (20 points, 5pts each)
a. Interest
Rate: 4.5
%
Term: 15 years
b. Interest
Rate: 5.0
%
Term: 30 years
c. Provide an
amortization table showing all monthly
payments for the 15 year loan.
d. Provide an
amortization table showing all monthly payments
for the 30 year loan.