Which of the Following Is NOT a Basis for Determining

question 29

Multiple Choice

Which of the following is NOT a basis for determining who is a landowner or has rights to land among the Telefolmin?

• A)someone who initially cleared a plot of land
• B)someone who had a relative buried on a plot of land
• C)someone who inherited land from maternal or paternal connections
• D)someone who was granted permission to use a plot of land

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Definitions:

Transferable Interest

The portion of a member's ownership in an LLC or partnership that can be transferred or sold.

Partnership Account

A financial account held in the name of a partnership for the purpose of managing the partnership's funds.

Partnership

A business entity created when two or more persons collaborate to operate a business and share its profits, losses, and responsibilities.

Transferable Interest

An ownership interest in an entity that can be transferred or sold to another party, subject to any restrictions in the entity's governing documents.