ACCT 215 FINAL EXAM QUESTIONS
AND ANSWERS 2026 VERIFIED.
Which of the following would be a legal principle used by a court when the defendant has been
accused of wrongfully diverting rain water?
Common enemy doctrine
Prior appropriations doctrine
Correlative rights doctrine
Riparian rights - ANS Common enemy doctrine
Jackson is on his way to school when he places his bag on the ground next to a bench while
waiting for a bus. He forgets the bag when boarding the bus. The bag would be referred to as
Lost property
Mislaid property
Abandoned property
Dropped property - ANS Mislaid property
The case of Stewart v. Judy resulted in
A farmer gaining land through adverse possession
A business owner gaining land from a junkyard through adverse possession
A school teacher gaining a lake home cabin through adverse possession
A farmer not gaining property through adverse possession - ANS A farmer gaining land
through adverse possession
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,Martha hosts a party at her house. She invites Nelson. Because of the invitation, Nelson most
likely has obtained a(an)?
Easement
License
Variance
Covenant - ANS License
Assume Jack and Jill purchase a home after they are married. Under the common law (and
some states today), the fact that Jack and Jill are married would create a
Tenancy by a married couple
Tenancy in common
Joint tenancy with right of survivorship
Tenancy by the entirety - ANS Tenancy by the entirety
Jerry leaves his son Mitchell his personal home as part of his will. This type of gift is referred to
as a?
Gift causa mortis
Testamentary gift
Gift inter vivos
Deathbed gift - ANS Testamentary gift
Juanita wants to buy a home. As part of the proposed purchase, Juanita hires an attorney
named David to review the ownership history of the property. David provides a written
document detailing his findings. This document is most likely to be referred to as a?
Bill of sale
Deed
Title insurance
Title opinion - ANS Title opinion
Which of the following bailments creates the highest duty of care for the bailee?
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, Gratuitous bailment
Bailment for mutual benefit
Bailment for the sole benefit of the bailee
Bailment for the sole benefit of the bailor - ANS Bailment for the sole benefit of the bailee
Which of the following statements would most likely lead to a case of fraud if proven untrue
and material?
This computer is the most reliable on the market"
"This computer is brand-new and has not been used before"
"This computer is the most reliable computer on the market today"
"This computer is my favorite computer" - ANS "This computer is brand-new and has not
been used before"
An advertisement that states untrue information about the company's own product is most
likely considered
Unfair advertising
Deceptive advertising
Indecent advertising
Profane advertising - ANS Deceptive advertising
US food and packaging laws don't require disclosure of
Serving size
Packaging firm's name
Amount of total fat
Wage paid to workers who manufactured the product - ANS Wage paid to workers who
manufactured the product
Which of the following professions generally does not require state licensure before providing
services?
Legal services
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AND ANSWERS 2026 VERIFIED.
Which of the following would be a legal principle used by a court when the defendant has been
accused of wrongfully diverting rain water?
Common enemy doctrine
Prior appropriations doctrine
Correlative rights doctrine
Riparian rights - ANS Common enemy doctrine
Jackson is on his way to school when he places his bag on the ground next to a bench while
waiting for a bus. He forgets the bag when boarding the bus. The bag would be referred to as
Lost property
Mislaid property
Abandoned property
Dropped property - ANS Mislaid property
The case of Stewart v. Judy resulted in
A farmer gaining land through adverse possession
A business owner gaining land from a junkyard through adverse possession
A school teacher gaining a lake home cabin through adverse possession
A farmer not gaining property through adverse possession - ANS A farmer gaining land
through adverse possession
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 27
,Martha hosts a party at her house. She invites Nelson. Because of the invitation, Nelson most
likely has obtained a(an)?
Easement
License
Variance
Covenant - ANS License
Assume Jack and Jill purchase a home after they are married. Under the common law (and
some states today), the fact that Jack and Jill are married would create a
Tenancy by a married couple
Tenancy in common
Joint tenancy with right of survivorship
Tenancy by the entirety - ANS Tenancy by the entirety
Jerry leaves his son Mitchell his personal home as part of his will. This type of gift is referred to
as a?
Gift causa mortis
Testamentary gift
Gift inter vivos
Deathbed gift - ANS Testamentary gift
Juanita wants to buy a home. As part of the proposed purchase, Juanita hires an attorney
named David to review the ownership history of the property. David provides a written
document detailing his findings. This document is most likely to be referred to as a?
Bill of sale
Deed
Title insurance
Title opinion - ANS Title opinion
Which of the following bailments creates the highest duty of care for the bailee?
@COPYRIGHT ALL RIGHTS RESERVED PAGE 2 OF 27
, Gratuitous bailment
Bailment for mutual benefit
Bailment for the sole benefit of the bailee
Bailment for the sole benefit of the bailor - ANS Bailment for the sole benefit of the bailee
Which of the following statements would most likely lead to a case of fraud if proven untrue
and material?
This computer is the most reliable on the market"
"This computer is brand-new and has not been used before"
"This computer is the most reliable computer on the market today"
"This computer is my favorite computer" - ANS "This computer is brand-new and has not
been used before"
An advertisement that states untrue information about the company's own product is most
likely considered
Unfair advertising
Deceptive advertising
Indecent advertising
Profane advertising - ANS Deceptive advertising
US food and packaging laws don't require disclosure of
Serving size
Packaging firm's name
Amount of total fat
Wage paid to workers who manufactured the product - ANS Wage paid to workers who
manufactured the product
Which of the following professions generally does not require state licensure before providing
services?
Legal services
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