Which of the Following Statements Is TRUE

question 60

Multiple Choice

Which of the following statements is TRUE?

• A)An easement and a licence are both non-possessory interests in land.
• B)A restrictive covenant is a non-possessory interest in land.
• C)An easement and a restrictive covenant are possessory interests in land, but a licence is not.
• D)An easement is a non-possessory interest in land, but a profit à prendre is not.
• E)An easement, a licence, and a restrictive covenant all require the existence of dominant and servient tenements.

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Definitions:

Straight-Line Depreciation

A technique for distributing the expense of a tangible asset uniformly throughout its operational lifespan.

After-Tax Discount

The reduction in price or value of an item, investment, or income after taxes have been deducted.

Income Taxes

Taxes levied by the government on individuals or corporations' net income or profit.

Straight-Line Depreciation

A method of allocating the cost of a fixed asset evenly over its useful life.