If Arthur were as yet childless, which of the following present grants would be considered as creating a contingent remainder?
a. "To Arthur and his heirs forever and ever."
b. "To Arthur for life and then to his first-born son, but if he has no male children, then to the Catholic Church."
c. "To Arthur for life, then to grantor.".
d. "To Arthur for 100 years and then to the Catholic Church."
b
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Expenses are recognized and matched against revenues on the basis of three principles. Which of the following is not one of these principles?
A) immediate consumption B) associating cash flows C) systematic and rational allocation over time D) cause and effect
Which of the following can be used without coordinating with managers of succeeding activities?
A. Critical float B. Free slack C. Total slack D. Slip pad E. Float pad
________ is the cash that will flow into and out of the organization
Fill in the blanks with correct word
Jesse and Michele Knight were interested in buying a lot in a subdivision in the Manor Estates. They went to the sales office and talked with Mr. David Goates. They explained that they were interested in buying a lot and building a home with a basement apartment that they could then rent out for income purposes. Goates was unclear about whether the apartment would be permitted, but stated that he
had friends who had such apartments even when the deed restrictions prohibited them. The Knights purchased a lot and built their home with the basement apartment, which they then rented. There was a deed restriction prohibiting such use in the subdivision. Which of the following describes the Knights' position? A)?If the Knights were not aware of the deed restriction, they can rent the basement. B)?If the Knights relied on Goates and his representation, they can rent the basement. C)?The Knights are subject to the deed restriction and cannot rent the basement. D)?Either a or b