Which of the Following Is Not One of the Six

question 27

Multiple Choice

Which of the following is not one of the six classes of Land Charge defined in section 2 of the Land Charges Act 1972?

• A) Statutory charges
• B) Spouse's matrimonial home right under the Family Law Act 1996
• C) Annuities created before 1926
• D) Legal leases of less than three years

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Definitions:

Traditional Costing

A costing methodology that assigns overhead costs to products based on a predetermined rate, often using direct labor hours as the allocation base.

Activity-Based Costing

Activity-Based Costing is a method of allocating overhead to specific products or services based on the activities that contribute to overhead costs.

Overhead Cost

The ongoing, general business expenses not directly tied to producing goods or services but necessary for running the business.

Traditional Costing

A costing method that assigns factory overhead to products based on volume-related measures such as direct labor hours or machine hours.