Bart Leased a Piece of Land Called Blackacre to Aida

question 39

Multiple Choice

Bart leased a piece of land called Blackacre to Aida for two years.Which of the following statements is TRUE?

• A)Bart and Aida both have estates in Blackacre.
• B)Aida is the landlord.
• C)Aida has a non-possessory interest in Blackacre.
• D)The lease is void unless it is evidenced in writing.
• E)Bart must have the fee simple in Blackacre.

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Definitions:

Insurance Expense

The cost allocated to a period for holding insurance policies, protecting against various risks.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period of time, resulting in a net income or loss.

Salaries Expense

The total amount paid to employees for services rendered during a specific period, recorded as an expense in financial statements.

Salaries Payable

A liability account that records the amounts owed to employees for work performed but not yet paid.