Which of the Following Situations Does Not Describe the Situation

question 14

Multiple Choice

Which of the following situations does not describe the situation where a trust will be used in relation to ownership of land?

• A) Where beneficial ownership is held by persons as joint tenants.
• B) Where beneficial ownership is held by persons as tenants in common.
• C) Where one person is entitled to the land as a single owner.
• D) Where legal title is held by persons as joint tenants.

---

Definitions:

Fixed Costs

Fixed outgoings, including rent, salaries, and insurance, that are unaffected by production or sales volumes.

Net Income

The total earnings or profit of an individual or business after deducting expenses and taxes.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from total revenue.

Variable Costs

Expenses that vary in relation to the amount of product or service produced by a company.