Under Common Law, Ownership of Real Property Extended from the Center

question 1

Multiple Choice

Under common law, ownership of real property extended from the center of the earth to the highest point ________.

• A) on the land.
• B) in the county
• C) in the sky
• D) in the state

---

Definitions:

Absorption Costing

A method of inventory costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Direct Materials Costs

Costs directly traceable to the production of a product, including raw materials and component parts.

Direct Conversion

The process of changing one form of energy, material, or resource directly into another without intermediate stages.