Edna, Elsa, and Ellen are sisters who own 500 acres of land as tenants in common. Discuss the interest each has in the real estate
Each one has the right to possession and use; none of them can claim any specific portion of the land. Each has an undivided interest in the property. Tenants in common need not have acquired their interests at the same time or by the same instrument, and their interests may differ as to duration and scope. Tenants in common have no right of survivorship and may terminate their tenancy either by transferring all of their co-interests to one person or by partitioning the property among themselves.
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According to generally accepted accounting principles, goodwill is recorded as an asset
A) when favorable factors combine to create goodwill. B) when a company has superior earning power. C) when it is paid for as part of the purchase of a business. D) under no circumstances.
Applied overhead consists of which of the following?
a. actual activity times predetermined overhead rate b. estimated activity times predetermined overhead rate c. actual activity times actual overhead rate d. estimated activity times actual overhead rate
Employees should be encouraged to do all of the following except
a. Participate in the management of their own performance b. Keep their own performance records c. Meet regularly with the supervisor to discuss performance successes and challenges d. File grievances when they are not happy about a performance evaluation
Which of the following is true about a hung jury in a criminal case?
A) It will automatically result in a new trial conducted before the same judge. B) Because it means that the jury did not find guilt beyond a reasonable doubt, it has the same result as if the jury had issued a verdict of not guilty. C) It will automatically result in a new trial, although it might be conducted before a different judge. D) It will allow another trial of the defendant to be held, which the state might or might not choose to actually prosecute.