Which of the Following Is Not a Requirement of a "Common

question 48

Multiple Choice

Which of the following is not a requirement of a "common law" marriage?

• A) The parties must be eligible to be married.
• B) The parties must be acting voluntarily.
• C) The parties must live together.
• D) The parties must obtain a marriage license, although a ceremony is not required.
• E) The parties must act as if they are married.

---

Definitions:

Contingent Consideration

An obligation to transfer additional assets or equity interests if certain predefined conditions are met post-acquisition.

Equity

The residual interest in the assets of an entity after deducting liabilities, representing the ownership value held by shareholders.

Fair Value

The figure that represents either the income from an asset sale or the expense for settling a liability during a coordinated trade between market participants on the agreed upon date of appraisal.

Fair Value

An estimation of the price at which an asset or liability would be willingly exchanged between market participants at an arm's length transaction.