A, B, C, D are joint tenants to Section 24 in a standard township. D deeds her interest to E:
a. E is a joint tenant with A, B, C
b. E acquired 160 acres
c. E owns a 1/4 interest in 640 acres
d. E owns nothing because D cannot deed her interest as a joint tenant
Answer: c. E owns a 1/4 interest in 640 acres
You might also like to view...
Using questionnaires is useful for doing exploratory studies to gauge overall opinion
Indicate whether the statement is true or false
Manziel Inc. is a sole proprietorship owned by Chris Herold. Chris acquired $9,000 worth of equipment for use in his store. He will pay for the equipment in 30 days. The effect of this transaction on Manziel would be to
A) increase the equipment account by $9,000 and increase the accounts payable account by $9,000. B) increase the equipment account by $9,000 and decrease the accounts payable account by $9,000. C) increase the equipment account by $9,000 and increase the capital account by $9,000. D) This would not change any account because the equipment has not been paid for. E) This would not change any account because this transaction does not affect Manziel Inc.