Ollie Leased a Building in Old Town

question 5

Multiple Choice

Ollie leased a building in Old Town.Ollie installed a washer and dryer unit and a new furnace in the basement of the building with new duct work throughout the building.Upon expiration of the lease,Ollie intends to remove the washer and dryer,but not the furnace.The washer and dryer can easily be removed without harming anything.Removal of the furnace,however,will damage the building.Are the washer,dryer,and furnace fixtures?

• A)The washer,dryer,and furnace are all fixtures.
• B)The furnace is a fixture,but the washer and dryer are not.
• C)The washer and dryer are fixtures,but the furnace is not.
• D)The furnace and the washer are fixtures,but the dryer is not.

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Definitions:

Federal Deposit Insurance Corporation

Insures bank deposits up to $100,000.

Automated Teller Machines

Electronic banking outlets that allow customers to complete basic transactions without the need for a branch representative or teller.

Takeovers

The acquisition of one company by another, in which the acquiring company obtains a controlling interest in the target company.

Interest Income

Income earned from deposit accounts or from investing in interest-bearing financial instruments.