"Action on the Covenant," and at Common Law,"distrain" Are Both

question 39

Multiple Choice

"Action on the covenant," and at Common Law,"distrain" are both remedies open to

• A)a tenant to enforce a right of quiet possession or repair.
• B)a landlord for non-payment of rent.
• C)a landlord to terminate a tenancy-at-sufferance.
• D)a tenant to enforce a pre-existing right to sublet.
• E)either party to a lease.

Learn about continuous budgeting and its benefit for future planning.

Understand the basic concepts and components of the budgeting process.

Differentiate between various types of budgets within a company's budgeting process.

Recognize the sequence of budget preparation and the interconnectivity of budgets.

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Definitions:

Non-current Liability

Long-term financial obligations that are due beyond one year or beyond the normal operating cycle.

Cash Equivalents

Short-term, highly liquid investments that can be easily converted into a known amount of cash with minimal risk of changes in value.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement to ensure consistency.

Reconciling Information

The process of verifying the accuracy and consistency of two sets of records, identifying and explaining discrepancies to ensure financial records match.