Phil Owns a Farm in South Dakota

question 3

Multiple Choice

Phil owns a farm in South Dakota.He does not like it when planes from the local airport fly over his property.Phil is unlikely to win a case claiming that airplanes flying over his land violate his property rights unless

• A)the planes fly over more than twice a day.
• B)he can prove there are more efficient routes for the planes to take.
• C)the flights are low and frequent and cause direct interference with Phil's enjoyment of the land.
• D)the planes belong to private individuals

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, usually derived from the company's profits.

Fair Value Enterprise Method

A valuation approach that estimates the value of an entire enterprise based on the fair value of its assets and liabilities.

Equity Method

An accounting technique used by companies to record their investments in other companies, based on the equity or ownership stake in those companies.

Amortization

The process of gradually writing off the initial cost of an asset over its useful life, applicable to intangible assets.