The difference between an easement and a deed restriction turns on:
a. one can "run with the land" and the other cannot
b. one controls use and the other controls access
c. one is created in a deed and the other is not
d. both require a writing
Answer: b. one controls use and the other controls access
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No director can act as an ______ to bind the corporation.
Fill in the blank(s) with the appropriate word(s).
On January 1, 2017, Ahrens Services issued $169,000 of six-year, 12% bonds when the market interest rate was 11%
The bonds were issued for $172,000. Ahrens uses the effective-interest method to amortize the bond premium. Semiannual interest payments are made on June 30 and December 31 of each year. Which of the following is the correct journal entry to record the first interest payment? (Round your answers to the nearest dollar number.) A) Interest Expense 9,295 Cash 9,295 B) Interest Expense 9,295 Discount on Bonds Payable 845 Cash 10,140 C) Interest Expense 9,460 Premium on Bonds Payable 680 Cash 10,140 D) Cash 10,140 Premium on Bonds Payable 845 Interest Expense 9,295