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ACC 543 Week 5 Exam (New Syllabus)


Which of the following deeds will give a real property purchaser the greatest protection?   Which of the following factors help determine whether an item of personal property has become a fixture?   Sklar, Rich, and Cey own a building as joint tenants with the right of survivorship. Sklar gave Sklar’s interest in the building to Marsh by executing and delivering a deed to Marsh. Neither Rich nor Cey consented to this transfer. Rich and Cey subsequently died. After their deaths, Marsh’s interest in the building would consist of   Rich purchased property from Sklar for $200,000. Rich obtained a $150,000 loan from Marsh Bank to finance the purchase, executing a promissory note and a mortgage. By recording the mortgage, Marsh protects its   On August 15, 1994, Tower, Nolan, and Oak were deeded a piece of land as tenants in common. The deed provided that Tower owned 1/2 the property and Nolan and Oak owned 1/4 each. If Oak dies, the property will be owned as follows:   A purchaser who obtains real estate title insurance will   Which of the following is a defect in marketable title to real property?   Which of the following interests in land conveys the greatest ownership rights?   Which of the following provisions must be included in a residential lease agreement?   Which of the following elements must be contained in a valid deed?   Which of the following can enforce the anti-trust laws?   A small computer software firm wishes to sue Microsoft for monopolizing its market. What must the firm establish in order to win the case?   What are examples of non-price predation that might be relevant in an intent-to-monopolize case?   Which of the following are defenses to a Robinson-Patman Act price-discrimination charge?   Which of the following is (are) true?   Carlos writes a novel about an accountant that is published on January 1, 2010. Carlos files his novel with the U.S. copyright office on January 1, 2015. Carlos dies on January 1, 2020. Carlos’ family wishes to know when the copyright will expire. It will expire immediately before:   The Accounting Syndicate Publishing Co. (ASPC) wants an accounting textbook on IFRS for the university market. It hires Ed, a retired college professor, to write the book, on the understanding that the copyright would belong to ASPC. Ed finishes the book on January 1, 2010. ASPC is unenthusiastic about the book and does not publish it until January 1, 2018. Meanwhile, Ed has died on January 1, 2011. When does ASPC’s copyright expire?   Tim is a songwriter. One morning, he is sitting in a coffee shop, whistling some notes that he thinks might ultimately become part of a song he was working on. He forgot about the notes, until he heard them on the radio one day as part of a song written and recorded by Julie. It turns out Julie had been in the coffee shop that day and really liked what Tim was whistling. Tim sues Julie for copyright infringement. What will happen?   Lanny files for a utility patent on January 1, 2011. The patent is granted on January 1, 2015. The patent will expire just before January 1: Sam patents a “rat zapper,” a shoe-box-sized device that uses bait to lure in a rat and then kills it with an electrical charge. Lon files a patent application for a “gopher zapper,” a slightly bigger device that uses bait to lure in a gopher and then kills it with an electrical charge. What is true regarding Lon’s application?   A long-lost relative of Albert Einstein’s recently filed for a patent for Einstein’s famous formula, E = MC2. Which of the following is true?   Money-laundering statutes forbid which of the following:   The Masonne company engages in the following activities. Which is (are) an example of illicit money-laundering activity?   S, a CPA, conspires with P and others to file false individual federal income-tax returns for P’s mistress, Pam. These returns generate $800,000 in undeserved tax refunds and Pam gives most of the money to P. S, P, and others then prepared a $4.5mn loan application on Pam’s behalf to improve a 30,000-square-foot home. Pam receives $4.5mn from one bank and $1.5mn from a second bank. She transfers the money to P. P and S transfer more than $1mn back to Pam by disguising the payments as payroll checks, rental payments and other miscellaneous payments. Then P and his wife refinance the same property and received a $12mn loan, which is used to pay off Pam’s obligations to the banks. Which of the following is true?   Green and Nunn own a 40-acre parcel of land as joint tenants with the right of survivorship. Nunn wishes to sell the land to Ink. If Nunn alone executes and delivers a deed to Ink, what will be the result?   Which of the following statements pertaining to a mortgage on a building is incorrect?   Eddy Sun created a new solar power light bulb that was substantially less expensive than any other light bulbs in the marketplace. As a result of the low cost of the bulb and the low cost to use the bulb, Sun’s bulb soon gained 80% of the light bulb market. Sun’s market share was a direct result of consumers simply demanding Sun’s light bulb because it was the most cost efficient bulb available. Nevertheless, one of Sun’s competitors has sued Sun for engaging in monopolization, a violation of Section 2 of the Sherman Act. What is the likely outcome of the lawsuit?   Crudweiser Inc. and Borona Ltd. are two companies that produce beer. Crudweiser wants to acquire Borona through a merger. The merger:   Brush is a professor of accounting at a large university.  He wishes to hand out copies of a two-page article that can be found both in a book in the library and through some software purchased by the university. Both are copyrighted.  Which of the following is(are) correct?   Datam Corporation purchased some software for use in its business from Softcompute Company. Softcompute claims that the software has been legally copyrighted. Which of the following is correct?   Lanny files for a utility patent on January 1, 2011. The patent is granted on January 1, 2015. The patent will expire just before January 1:



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