Liability items on an insurer's balance sheet that reflect obligations that must be met in the future are called

Mr. James sold Blackacre to Mr. Woods. Before he sold it, Blackacre had an appurtenant easement across Whiteacre, which was owned by Mr. Sommers. When Mr. Woods tried to use the easement, Mr. Sommers protested. Which of the following is correct?

A: Mr. Sommers owns the servient tenement and must allow Mr. Woods to use the easement; B: An appurtenant easement always passes when the property is sold; C: Mr. James now owns the dominant tenement and the easement upon it; D: Mr. James owns the easement and can give it to anyone.

Third Church operates a gift shop in its parish house. The total income of the church is $800,000 . Of this amount, $300,000 comes from offerings and $500,000 comes from the net income of the gift shop. The gift shop operations are conducted by six full-time, paid employees. Which of the following statements is correct?

a. The $800,000 is unrelated business income. b. The $500,000 of gift shop net income is unrelated business income. c. The $300,000 is unrelated business income because the gift shop is a feeder organization. d. None of the $800,000 is unrelated business income. e. The unrelated business income tax does not apply to churches.