Question
Rosalie's home was foreclosed when she still owed $198,000 on the recourse loan. The home sold at the foreclosure sale for $142,500. The difference between
Rosalie's home was foreclosed when she still owed $198,000 on the recourse loan. The home sold at the foreclosure sale for $142,500. The difference between the sale price and amount owed is called a _____________.
a. Surplus
b. Recourse debt
c. Shortage
d. Deficiency
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Applying IFRS Standards
Authors: Ruth Picker, Kerry Clark, John Dunn, David Kolitz, Gilad Livne, Jance Loftus, Leo Van Der Tas
4th Edition
1119159229, 9781119159223
