Lisa lives next to a vacant plot that belongs to Carol. Carol has never visited the plot in the last 20 years during which period, Lisa has taken care of it by fencing the plot and mowing the grass. if this continues, Lisa will be able to claim ownership of land based on adverse possession.
Adverse possession, every so often colloquially described as "squatter's rights", is a criminal principle in the Anglo-American not unusual law below which a person who does no longer have criminal title to a chunk of assets generally land (real assets) may additionally accumulate prison possession based on continuous ownership or occupation of the property without the permission of its prison owner. The ownership by means of a person is not unfavorable if they may be in ownership as a tenant or licensee of the felony proprietor.
What's the rule of thumb of adverse possession?
It was determined: “adverse possession lets in a trespasser – a person guilty of a tort, or maybe a crime, in the attention of the regulation – to advantage felony title to land which he has illegally possessed for 12 years.
What are the necessities of adverse possession?
Someone who claims adverse possession have to show: (a) On what date he got here into possession, (b) What became the character of his ownership, (c) Whether the factum of possession become regarded to the opposite party. (d) How lengthy his ownership has persevered, and (e) His possession became open and undisturbed.
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The equation for the income statement is Revenues - Cost of goods = Net income. The three major items reported on the income statement are net income, gross profits, and operating income.
The income statement is a statement of the profits and losses of a firm. It consists of three income statements. The Net income is derived by deducting the expenses of the firm from its revenues (Net income = Revenue - Expenses). It may also be calculated by adding the operating income with the non-operating items.
Gross profit is arrived at by subtracting the expenditure made on the products that were sold from the revenue of a firm. The Operating income is the result of subtracting the operating expenses from the gross profit.
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Answer:
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Explanation:
Answer:
Explanation:
The statement of income records all sales revenues general and expenditure incurred during a particular period.
The balance sheet reports the assets and the liabilities of the company
So, the classification is as follows
a. Net income = income statement (I)
b. Retained earnings = balance sheet (B)
c. Depreciation expense = income statement (I)
d. Accumulated depreciation = balance sheet (B). It is deducted from the value of the respective fixed assets
e. Wages expense = income statement (I). It is shown on the debit side of the income statement
f. Wages payable = balance sheet (B). It is a current liabilities
g. Interest expense = income statement (I) It is shown on the debit side of the income statement
h. Interest payable = balance sheet (B). It is a current liabilities
i. Sales = income statement (I)
Lisa is an HR manager who has been assigned the task of establishing pay rates to ensure external equity. Lisa most likely should conduct a salary survey.
The human resources department is responsible for a wide range of functions within a company. HR manager are responsible for recruiting and hiring new employees, managing employee benefits and records, and administering pay.
They may also be responsible for employee training and development, and employee relations. They also play a key role in developing and implementing company policies and procedures.
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