Certain Personal Property Is So Closely Associated with Real Property

question 40

Short Answer

Certain personal property is so closely associated with real property that it becomes part of the realty.Such items are called ________.

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Definitions:

Increase

An uptick in size, number, value, or strength.

Posting

The process of transferring journal entry amounts to respective accounts in the ledger.

Equality

A principle ensuring that individuals are treated similarly, without any discrimination based on race, gender, ethnicity, religion, or social status.

Debits and Credits

The two sides of every financial transaction in accounting. Debits increase assets or expenses and decrease liabilities or equity, whereas credits do the opposite.