Mark Ward Is a Farmer Who Owns Land Which Borders

question 97

Multiple Choice

Mark Ward is a farmer who owns land which borders on the right-of-way of the Northern Railroad.On August 10, 2007, due to the admitted negligence of the Railroad, hay on the farm was set on fire and burned.Ward had had a dispute with the Railroad for several years concerning the ownership of a small parcel of land.The representative of the Railroad has offered to assign any rights which the Railroad may have in the land to Ward in exchange for a release of his right to reimbursement for the loss he has sustained from the fire.Ward appears inclined to accept the Railroad's offer.The Railroad's 2007 financial statements should include the following related to the incident:

• A)recognition of a loss and creation of a liability for the value of the land.
• B)recognition of a loss only.
• C)creation of a liability only.
• D)disclosure in note form only.

---

Definitions:

Twin Studies

Research studies that compare the similarities and differences between monozygotic (identical) and dizygotic (fraternal) twins to understand genetic and environmental influences.

Gender Identity

describes an individual's personal sense of their own gender, which may or may not correspond to their sex assigned at birth.

Orgasm

The climax of sexual stimulation, characterized by intense pleasure and followed by the release of sexual tensions.

Sexual Activity

Behaviors involving the sexual organs that people engage in for pleasure, reproduction, and/or to maintain social bonds.