An Easement Created When an Owner Sells Land That He

question 48

Multiple Choice

An easement created when an owner sells land that he or she owns,but reserves an easement on the land,is called (a) n:

• A) easement by reservation.
• B) easement by grant.
• C) easement by prescription.
• D) easement by necessity.
• E) easement by implication

Distinguish between the interest method and the straight-line method for amortizing bond discount and premium.

Prepare journal entries for the issuance, interest payment, and amortization of bonds.

Accurately compute the carrying value of bonds over time.

Recognize the importance of adjusting entries for accrued interest on bonds and their effects on financial statements.

---

Definitions:

Patents

Legal documents granting an inventor exclusive rights to produce, use, and sell an invention for a certain period of time.

OSHA Workplace Standards

Regulations and guidelines issued by the Occupational Safety and Health Administration to ensure safe and healthful working conditions for working men and women.

Maturity

The stage of the organization when the business is considered well established.

Inventory

A company's stock of goods or materials, which are held for the purpose of resale or in the production process.