A Lease May Be Terminated Before the End of the Lease

question 48

Multiple Choice

A lease may be terminated before the end of the lease term if

• A) the tenant moves to take a job in a different city.
• B) the tenant dies
• C) the landlord dies.
• D) the tenant enters a nursing home.

Recognize the differences between the perpetual and periodic inventory systems in terms of recording inventory transactions.

Identify the appropriate accounts to be debited and credited in various merchandise transactions under both inventory systems.

Grasp the concept of recording the payment for purchases and the impact of merchandise returns on financial statements.

Distinguish the accounts used and affected in the periodic inventory system.

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Definitions:

Intervening Causes

Events that occur after a defendant's negligent act and contribute to a plaintiff's injury, potentially affecting liability and damages.

Superseding Causes

Events or actions that intervene in a chain of causation and prevent an actor from being liable for harm to another.

Harm

Refers to damage or injury that affects someone or something's well-being or functionality.

Abnormally Dangerous Activity

An abnormally dangerous activity is any activity that inherently involves a high risk of harm or injury to people or property, even when all possible safety measures are taken.