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:

Operate

The act of controlling or managing the functions of something, like machinery or a business.

Economic Profit

The distinction between the income generated from selling a product and the opportunity cost of the resources utilized.

Price

Price is the amount of money required to purchase a good or service, often determined by the balance of supply and demand in a market.

Economic Profit

The excess of total revenue over total costs, including both explicit and opportunity costs.