A Restrictive Covenant Is Temporary and Binds Only the Present

question 16

True/False

A restrictive covenant is temporary and binds only the present owner of property.

---

Definitions:

Inventory Records

Documentation that keeps track of the quantities, locations, and values of a company's inventory, assisting in the management and control of stock.

FIFO Inventory Valuation

An accounting method for valuing inventory where the first items placed in inventory are the first ones sold, affecting cost of goods sold and ending inventory valuation.

Sales Revenue

The total amount of money generated from the sale of goods or services before any expenses are deducted.

Gross Profit

The income a business earns after subtracting the expenses involved in producing and selling its goods or delivering its services.