Safety Stock Is Held to Meet Anticipated Need

question 53

True/False

Safety stock is held to meet anticipated need

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Definitions:

Fee Simple Absolute

An ownership interest in which the holder has exclusive rights to ownership and possession of the land to the holder; the most comprehensive type of estate.

Conditional Estate

A type of property ownership that is subject to certain conditions or requirements being met.

Condition

A provision in a contract or agreement that stipulates a specific event or action must occur before the contract is considered effective or a duty is triggered.

Appurtenant

is a legal term referring to rights or properties that are attached to and benefit a primary property, transferring with the title of that property from one owner to another.