Brick & Mortar Inc. signs a lease for a storefront owned by Commercial Properties Inc. The lease does not specify how long it is to last but does specify that rent is to be paid at certain intervals. This is
A. a periodic tenancy.
B. a fixed-term tenancy.
C. a license.
D. a tenancy by the entirety.
Answer: A
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Expenses are:
a. inflows of assets from customers. b. cash receipts from customers. c. outflows of assets from generating revenues. d. cash payments. e. sensitive to the timing of expenditures.
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Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
FIFO and LIFO measures of cost of goods sold and inventories are examples of calculations rather than measurements.
Which ratio measures how effectively a company is using assets to generate revenue?
A. Plant assets to long-term liabilities B. Asset turnover C. Inventory turnover D. Net margin