If the Beginning Balance in OAA Is Zero, and the Following

question 107

Short Answer

If the beginning balance in OAA is zero, and the following transactions occur, what is the ending OAA balance?
A)$1,300.

• A)$1,300.

---

Definitions:

Heir

A person legally entitled to receive part of the estate of a deceased person, either by will or through intestate succession laws.

Specific Warranty Deed

A legal document that transfers real estate ownership, guaranteeing the property is free from claims and liens only during the grantor's ownership.

General Warranty Deed

A legal document transferring property ownership that guarantees the seller holds clear title and assumes responsibility for any title defects.

Restrictive Covenants

Legal agreements tied to a property that restrict the actions property owners can take, often used in employment contracts and real estate.