Now That Approval of the Zoning Variance Has Been Confirmed

question 51

Multiple Choice

Now that approval of the zoning variance has been confirmed by the seller's lawyer,William's company is completing its purchase of a vacant piece of land for commercial development.Which of the following is the valid reason for William's company having made the possibility of the completion of this transaction subject to this requirement?

• A) provincial statutory restriction on land use
• B) government environmental agency restriction
• C) restriction on land use by common law
• D) restriction on land use by municipal regulation

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Definitions:

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

Income Statement

a financial statement that shows a company's revenues and expenses, and thus its profit or loss, over a specific period of time.

Percentage of Net Change

A calculation that measures the difference in a financial figure over a period as a percent of its value at the start of the period.

Comparative Income Statement

A financial statement that compares income, expenses, and net profits over different periods to show performance trends.