Arthur, Betty, and Clara Each Inherit an Undivided One-Third Interest

question 57

Multiple Choice

Arthur, Betty, and Clara each inherit an undivided one-third interest in an apartment complex. Instead of selling it, they decide to continue to operate it for the next few years as a sideline to their other occupations just to see if they can earn some extra money. What are they?

• A) A partnership.
• B) Co-owners only.
• C) A corporation.
• D) Creditors of the apartment complex.

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Definitions:

Internal Spur Gear

A type of gear with straight teeth located on the internal surface of a cylindrical or ring-shaped component, used to transmit motion or power within a confined space.

Flex Plate

A metal disc that connects the engine to the torque converter in automatic transmission vehicles, facilitating power transfer.

Starter Motor Pinion

A gear on the starter motor that engages with a gear on the engine to crank the engine during starting.

Freewheel

Freewheel refers to a mechanism in a bicycle, motorcycle, or vehicle allowing the wheels to rotate freely without engaging the drivetrain, especially when moving downhill or when not pedaling.