Multiple Choice
The HR department is most likely to collaborate with other company functions on which of the following activities?
16
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
Ownership of a freehold estate is referred to as:
A
Fee simple ownership
B
Partnership interest
C
Joint venture
D
Leasehold interest
Verified step by step guidance1
Understand the concept of a freehold estate: A freehold estate refers to ownership of real property for an indefinite duration, as opposed to a leasehold estate, which is for a fixed term.
Learn about fee simple ownership: Fee simple ownership is the most complete form of ownership in real estate. It grants the owner full rights to the property, including the ability to sell, lease, or pass it on to heirs.
Differentiate between the options: Partnership interest refers to shared ownership in a business entity, not real estate. Joint venture is a business arrangement between parties for a specific project, and leasehold interest refers to temporary rights to use property under a lease agreement.
Recognize that fee simple ownership aligns with the definition of a freehold estate, as it represents indefinite and complete ownership of the property.
Conclude that the correct answer is 'Fee simple ownership,' as it is the term that best describes ownership of a freehold estate.
Related Videos
Related Practice
Business Organization practice set
Problem sets built by lead tutorsExpert video explanations