Mill enterprises needs to raise a large amount of money.To raise the money,it sells its fractional interest in orange groves,located in Florida,to Sunshine Co.in New York.Sunshine Co.would be ensured a return in investment from the land purchased.Mill enterprises has sold:

Question

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By selling fractional interest in orange groves to Sunshine Co., Mill enterprises has sold securities. These securities represent an ownership interest in the orange groves and Sunshine Co. is ensured a return on investment from the land purchased.

Mill Enterprises Needs to Raise a Large Amount of Money