Which of the Following Does Not Indicate an Ownership Interest

question 12

Multiple Choice

Which of the following does not indicate an ownership interest in real property?

• A) Fee simple
• B) Life estate
• C) Joint tenancy
• D) Month-to-month tenancy
• E) Community property

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Definitions:

Cash Payment

A transaction in which payment for goods or services is made in cash at the time of purchase.

FOB Shipping Point

A term indicating that the buyer takes responsibility for goods once they are shipped, including paying for shipping costs and bearing the risk of loss.

Prepaid Freight

Costs paid in advance for the transportation of goods, which is often recorded as a prepaid expense on the balance sheet.

Sales Invoice

A document issued by a seller to a buyer, recording a transaction and requesting payment for the sale of goods or services.