Multiple Choice
A company's values or core values concern:
26
views
1. Introduction to Accounting
Business Organization
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Real property may be transferred or alienated by all of the following except:
A
Lease
B
Sale
C
Gift
D
Inheritance
Verified step by step guidance1
Understand the concept of 'real property': Real property refers to land and anything permanently attached to it, such as buildings. It can be transferred or alienated through various legal methods.
Review the methods of transferring real property: Common methods include sale (selling the property for monetary compensation), gift (transferring ownership without compensation), and inheritance (passing ownership through a will or legal succession).
Analyze the term 'lease': A lease is not a method of transferring ownership of real property. Instead, it is a contractual agreement that allows someone to use the property for a specified period without transferring ownership.
Compare the options provided: Sale, gift, and inheritance involve transferring ownership of the property, while a lease does not. This distinction is key to identifying the correct answer.
Conclude that the correct answer is 'Lease,' as it does not involve the transfer or alienation of ownership of real property.
Related Videos
Related Practice
Business Organization practice set
Problem sets built by lead tutorsExpert video explanations