An Interest in Land That Permits the Lessee to Remove

question 8

Multiple Choice

An interest in land that permits the lessee to remove or extract material from the land is referred to as

• A) restrictive covenant.
• B) covenant.
• C) easement.
• D) right of way.
• E) profit a prendre.

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Definitions:

Retained Earnings

The portion of net income not distributed as dividends to shareholders, but retained by the company to reinvest in its business or to pay debt.

Net Income

The profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, a key indicator of financial health.

Net Cash Flow

The amount of cash generated or lost by a company in a given period, considering cash inflows and outflows from operating, investing, and financing activities.

Accounts Receivable

The total amount of money owed to a company by its customers for goods or services delivered or used but not yet paid for.