Which of the Following Typically Characterizes Community Property

question 7

Multiple Choice

Which of the following typically characterizes community property?

• A)Partners get a share depending on who earned the property.
• B)One partner may convey property without the other's approval.
• C)It is property acquired during marriage.
• D)Inheritance is covered under community property.

---

Definitions:

Legal Entity

An individual or organization with legal rights and obligations, including the ability to enter into contracts, sue, and be sued.

Cumulative Preferred Stock

A type of preferred stock that has a provision that requires the company to pay all dividends, including those that have been skipped, before any dividends can be distributed to common stockholders.

Common Shareholders

Individuals or entities that own shares of a company's common stock, granting them rights to dividends and voting in shareholder meetings.

Dividends

The portion of a company's earnings distributed to shareholders, usually in the form of cash or additional stock.