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alexandr1967 [171]
3 years ago
6

Patsy possesses twenty-four acres of remote, rugged land. Patsy has the right to use the property, including extracting silver f

rom an existing mine, for life. Patsy also has the right to lease the land for a period not to exceed her life. Patsy's ownership interest is
Business
1 answer:
Viefleur [7K]3 years ago
6 0

Answer:

<u>a life estate</u>

Explanation:

Note the following privileges Patsy possesses;

  1. the right to use the property..., for life
  2. right to lease the land for a period not to exceed her life

Based of the mentioned privileges Patsy's ownership interest is a life estate which grants ownership of land for the duration of a person's life <em>according to  common law and statutory law.</em>

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Maurice and Stanley's train store has grown to the point that they need more capital to expand the current location and to open
harina [27]

Answer:

b. sole proprietorship.

Explanation:

  • A sole proprietorship is a single business entity that is responsible for all profits and losses and may use a sole name or a business name as a private company is known for its flexibility and thus does not need to take large loans from the government.
  • Have an advantage of less administrative paperwork and record-keeping than a corporation, have less risk of being stolen by investors.
6 0
3 years ago
Poskey Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following
MrRa [10]

Answer:

\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]

Explanation:

We mulitply each line by the stated percent of each activity

<u>for example</u>

Setting Up % x Utilities= Utilities cost assigned to setting up

199,000x 75% = 149,250

Assembly % Depreciation= Depreciation cost assigned to assembly

35% x 290,000 = 101,500

This process must be done to assign each portion of cost.

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3 years ago
Phil Johnson is the owner of a small firm that manufactures customized oil-drilling equipment. The company's manufacturing facil
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B. pooled manufacturing
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4 years ago
When qualifying a buyer using the Fannie Mae guidelines, what is the ratio allowed for the amount of money for housing expense c
vfiekz [6]

Answer:

28%

Explanation:

Most mortgage lenders, including Fannie Mae, use the 28/36 rule. That rule states that a family should spend no more than 28% of the gross monthly income (GMI) on housing expenses, and pay no more than 36% of GMI to cover debts (mortgage payments are included in this 36%).

Statistics show that households that do not comply with the 28/36 rule, tend to have difficulty paying back loans.

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Asset turnover _____. A. is another term for inventory turnover B. is calculated from information found on a firm's income state
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Answer: The correct answer is "C. reveals how profitable a company is".

Explanation: Asset turnover reveals how profitable a company is because it compares how well a company manages its assets to generate more income and accumulate more and more capital.

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