What is the doctrine of adverse possession? Briefly explain how it works.
What will be an ideal response?
Under the doctrine of adverse possession, someone can take title to the land if certain tests are met. In most states, to gain ownership of the land by adverse possession, the user must prove:entry and exclusive possession;open and notorious possession;a claim adverse, or hostile, to the owner; andcontinuous possession for a statutory period.
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Tracy drinks beer at a bar, then goes to a car dealer and orders a new car. Tracy later claims he was drunk and should not have to buy the car. This:
a. is correct?people who have been drinking are not responsible for contracts they sign b. is not correct?people who were drunk are responsible for their contracts, the law does not allow this excuse c. is not correct?after drinking a few beers you are responsible for your contracts d. depends if Tracy could show he was mentally incapacitated after a few beers, in which case he would notbe held to the contract e. none of the other choices
Privacy issues that concern most people include freedom from intrusion, freedom from ____, and control over the information collected and kept about one's self.
A. surveillance B. tracking C. historical analysis D. record control
The basic quality tool which is used to study the relationships between variables is known as ________.
Fill in the blank(s) with the appropriate word(s).
Consolidated net income attributable to the shareholders of the parent for 2018 would be:
LEO Inc. acquired a 60% interest in MARS Inc. on January 1, 2018 for $400,000. Unless otherwise stated, LEO uses the cost method to account for its investment MARS Inc. On the acquisition date, MARS had common stock and retained earnings valued at $100,000 and $150,000 respectively. The acquisition differential was allocated as follows: $80,000 to undervalued inventory. $40,000 to undervalued equipment. (to be amortized over 20 years) The following took place during 2018: ? MARS reported a net income and declared dividends of $25,000 and $5,000 respectively. ? LEO's December 31, 2018 inventory contained an intercompany profit of $10,000. ? LEO's net income was $75,000. The following took place during 2019: ? MARS reported a net income and declared dividends of $36,000 and $6,000 respectively. ? MARS' December 31, 2019 inventory contained an intercompany profit of $5,000. ? LEO's net income was $48,000. Both companies are subject to a 25% tax rate. All intercompany sales as well as sales to outsiders are priced to provide the selling company with gross margin of 20%. A) $36,300. B) $33,300. C) $12,500. D) $53,200.