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Land is sometimes called "real property" because

Land is sometimes called "real property" because

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Land is sometimes called "real property" because a) it lasts forever and therefore reflects the reality and permanence of the world. b) as a matter of reality, land was more valuable than anything else to the King of England. c) traditionally, it was the real source of most wealth in England. d) it is really more important than personal property. e) the owner can recover the land itself, rather than its monetary value, if someone wrongfully occupies it
Transcribed Image Text:Land is sometimes called "real property" because a) it lasts forever and therefore reflects the reality and permanence of the world. b) as a matter of reality, land was more valuable than anything else to the King of England. c) traditionally, it was the real source of most wealth in England. d) it is really more important than personal property. e) the owner can recover the land itself, rather than its monetary value, if someone wrongfully occupies it
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