To "Run with the Land," a Restrictive Covenant Must Essentially

question 4

Multiple Choice

To "run with the land," a restrictive covenant must essentially:

• A)be related to any disputed property.
• B)have a number of claimants to an estate.
• C)be binding on the original parties and their successors.
• D)be a joint tenancy.

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Definitions:

Accrual Accounting

A rephrased definition of Accrual Basis of Accounting; it involves recording transactions when they are earned or incurred, providing a more accurate financial picture by matching revenues with expenses.

Expenses

Expenses are the costs incurred during the operation of a business, such as rent, salaries, utilities, and materials, which are subtracted from revenues to determine net income.

Generating Revenue

Generating revenue involves activities and strategies a business employs to sell goods and services to customers, resulting in earnings.

Accrual Basis of Accounting

An accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.