A ________ Occurs When a Tenant Remains in Possession of the Property

question 2

Multiple Choice

A ________ occurs when a tenant remains in possession of the property (holds over) after a lease has expired.

• A)periodic tenancy
• B)tenancy at sufferance
• C)tenancy at will
• D)month-to-month tenancy

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Definitions:

Activity Measure

An allocation base in an activity-based costing system; ideally, a measure of whatever causes the costs in an activity cost pool.

Average Actual Selling Price

The mean price at which goods or services have been sold, calculated over a specific period or volume of sales.

Spending Variance

The difference between how much a cost should have been, given the actual level of activity, and the actual amount of the cost. A favorable (unfavorable) spending variance occurs because the cost is lower (higher) than expected, given the actual level of activity for the period.

Static Planning Budget

A budget based on a fixed level of activity that does not change with actual levels of output, sales, or other activity measures.