When a Nonconforming Use Began Before the Enactment of a Zoning

question 61

True/False

When a nonconforming use began before the enactment of a zoning ordinance,the now-illegal use must cease,because zoning ordinances are permitted to be applied retroactively,based on the purpose of furthering public policy goals.

---

Definitions:

Retained Earnings

Accumulated net income that a company decides to keep rather than distribute to its shareholders as dividends.

Owners' Equity

Owners' equity represents the ownership interest of the shareholders or owners in the net assets of a company, reflecting the difference between assets and liabilities.

Current Liability

A financial obligation that is due within one year or within the normal operating cycle of the business.

Worksheet

A paper or spreadsheet used by accountants to prepare adjusting entries and to produce financial statements.