Implicit Rent Is an Estimate of the Amount That Homeowners

question 69

True/False

Implicit rent is an estimate of the amount that homeowners would pay if they had to rent their home and is also an estimate of the benefit of owning a home.

---

Definitions:

Governing Boards

Bodies that oversee the strategic direction, accountability, and major policies of an organization, often comprising members elected or appointed to serve.

Ultimate Responsibility

The highest level of accountability, often resting with top managers or leaders, for the outcomes and decisions of an organization or project.

Organization's Mission

A statement that outlines an organization's purpose, its reasons for existing, and the unique value it aims to provide.

Form 990

The IRS form used by tax-exempt organizations to provide the public with financial information about the organization, including how their funds are used.