Reversionary Interests Must Be Expressly Stated

question 154

True/False

Reversionary interests must be expressly stated.

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Definitions:

Required Return

The minimum return an investor expects to achieve on an investment to consider it worthwhile.

Float Period

The time between when an individual writes and submits a check and when the check is cleared from the account.

Credit Sale

A transaction in which the buyer is allowed to take possession of goods or services before payment is made, typically under agreed terms of payment.

Accounts Receivable

Unsettled payments by customers to a company for delivered goods or services.