"Options Granted" are described in Section 130. A statement accompanies the balance sheet, giving the number, name, property, and amount of each such option. Inasmuch as they have not yet been turned into contracts and charged to Real Estate, this amount is carried in the balance sheet as a separate liability.

"Options Held" are options on real estate obtained by the concern and are included in the "Real Estate" column, as it is expected that each of them will be exercised and that the amount paid for the option will be deducted from the purchase price to be paid for the respective properties. In the event of any option lapsing, the amount paid therefor is chargeable directly to Profit and Loss.