Use the Following Information About Q Corporation, an Apartment Rental

question 37

Multiple Choice

Use the following information about Q Corporation, an apartment rental company with three shareholders. $\begin{array}{lr}\text { Interest income }&\$15,000\\\text { Gross rental income }&30,000\\\text { Depreciation, property taxes, and interest expense related to rental }\\\text { income } & 18,000 \\\text { Maintenance and utilities related to rental income } & 4,000 \\\text { Dividends paid during the current year } & 7,000\end{array}$ What is Q Corporation's adjusted income from rents?

• A)$8,000
• B)$12,000
• C)$26,000
• D)$30,000
• E)None of the above

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Definitions:

Demand Schedule

A table that lists the quantity of a good or service that consumers are willing and able to purchase at various prices.

Entry Of Firms

The process where new businesses enter a market to compete with existing firms, contributing to innovation, competition, and potentially altering market dynamics.

Monopolistically Competitive

Monopolistically competitive refers to a market structure characterized by many firms selling similar but not identical products, allowing for some degree of market power and product differentiation.

Price

Price refers to the sum of money that is anticipated, demanded, or paid in exchange for something.