Mia Has Written a Deed That Says,"To Chelsea for Life,and

question 25

Multiple Choice

Mia has written a deed that says,"To Chelsea for life,and upon her death the property shall go back to me." What kind of interest does Mia have in the property upon Chelsea's death?

• A) a repudiation
• B) a redemption
• C) a reversion
• D) a retention

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Definitions:

Common Shares

Equity securities that represent ownership in a company, entitling holders to vote at shareholder meetings and to receive a share of the company's profits through dividends.

Book Values

The value of an asset or liability according to its balance sheet account balance, taking into account the cost of the asset minus depreciation.

Non-Controlling Interest

A portion of equity in a subsidiary not owned by the parent company, reflecting the minority shareholders' share of the assets and earnings.

Cumulative Dividends

Dividends on preferred shares that accumulate if not paid in one period and must be paid out before dividends can be distributed to common shareholders.