Answer:
No, because the planned sale to the private developer to increase the tourist trade qualifies as a public use.
Explanation:
Eminent domain is the provision that gives a government the ability to take a private property and convert it to public use. The owner of the property is however required to be compensated adequately.
In this instance the city filed eminent domain proceedings in order to obtain 40 beach houses as part of an elaborate plan to increase the city's tourist trade and revive the local economy.
Since this is for public gain the city has a legal right to file for an eminent domain here.
So the owners will most likely not prevail in this situation
Answer:
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Explanation:
Answer:
Correct option is (a)
Explanation:
Unearned revenue are revenue earned against services that have not been performed yet. In accrual system, revenue is recognized when service is performed against it.
Revenue earned without service being discharged is treated as liability till the period service is performed. It is recognized as income only after service is performed. For example unearned rent revenue is an unearned revenue which is reported as a liability till the rent period for which revenue was received is over.
The yield rate of Timothy's investment as decribed is; 14.52% per annum
According to the question;
- Timothy invests $2400 at time 0.
The return on the investment after the first 3 years provided he receives $700 at the end of each year for the first 3 years.
- After first 3 years; Return = 3 × $700 = $2100.
- At year 4: He pays $1033 = -$1033
- At year 7 and 8; He receives $860 each = $860 × 2 = $1,720
Therefore; the net yield on the investment after 8 years is;
$2100 - $1033 + $1,720 = $2,787
The net yield per year can then be evaluated as follows;
The yield rate of his investment is therefore the percentage yield per annum which is evaluated as follows;
- = ($348.375/$2,400) × 100%
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