Multiple Choice
One cost of starting your own business is _____.
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1. Introduction to Accounting
Types of Accounting
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An exclusive agreement to list property for sale should include all of the following except:
A
The duration of the listing agreement
B
A detailed breakdown of the company's accounting methods
C
The listing price of the property
D
The commission rate to be paid to the broker
Verified step by step guidance1
Understand the context of the problem: The question is asking about the components of an exclusive agreement to list property for sale, which is a legal document used in real estate transactions.
Identify the key elements typically included in such agreements: These agreements generally specify the duration of the listing, the listing price of the property, and the commission rate to be paid to the broker.
Recognize the irrelevant option: A detailed breakdown of the company's accounting methods is not relevant to the purpose of a listing agreement, as it does not pertain to the sale or marketing of the property.
Clarify why the irrelevant option is excluded: The listing agreement focuses on terms directly related to the property sale, not internal company processes like accounting methods.
Conclude that the correct answer is the option that does not align with the purpose of the agreement, which is 'A detailed breakdown of the company's accounting methods.'
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