Which of the Following Statements Is True of Fixtures

question 17

Multiple Choice

Which of the following statements is true of fixtures?

• A) When an item is of little value except for use with certain real property, it is likely to be considered a fixture even if it is unattached.
• B) One who provides fixtures to real property without a request to that effect from the owner is entitled to compensation from the owner.
• C) Personal property that may be removed with little injury to the property is likely to be considered a fixture.
• D) Actual physical attachment to real property is necessary for an item to be considered a fixture.

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Definitions:

Decrease Side

The side of an account used to record decreases in assets, expenses, or increases in liabilities and equity.

Ledger

A comprehensive collection of a company's financial transactions, organized by account.

Alphabetical Order

A method of sorting by arranging items according to the sequence of letters in the alphabet.

Credits

In accounting, credits are entries that decrease assets or increase liabilities and equity on a company's balance sheet, corresponding to the double-entry bookkeeping system.