Which of the Following Statements Is TRUE

question 77

Multiple Choice

Which of the following statements is TRUE?

• A)Ownership of land generally does not include ownership of things attached to the land.
• B)A building scheme can be used to create easements but not restrictive covenants.
• C)To say that an easement runs with the land means that the easement applies to the entire property rather than just a part of it.
• D)The concept of "prescription," as explained in Chapter 15,refers to the fact that the owner of a life estate must avoid acts of waste.
• E)The Crown ultimately owns every piece of land in Canada.

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Definitions:

Capital Expenditures

Capital invested by a business to purchase or improve tangible assets, like real estate, factories, or machinery.

Stockholders' Equity

Represents the owners' claims on the assets of a corporation, calculated as total assets minus total liabilities.

Residual Value

The projected amount an asset is expected to yield when sold at the conclusion of its useful life.

Double-Declining-Balance

An accelerated method of depreciation where an asset’s book value is reduced at double the rate of its straight-line depreciation.