Which of the Following Is True Regarding a Security Deposit

question 4

Multiple Choice

Which of the following is true regarding a security deposit on an apartment lease?​

• A)Refund of any unused security deposit must be within a reasonable time usually two weeks or a month.
• B)The landlord has no duty to itemize and explain charges against the security deposit as long as they are made in good faith.
• C)Only half the security deposit of an amount of $1,000 can be used to repair damages caused to the tenancy.
• D)If damages to an apartment exceed the amount of the security deposit the tenant is not liable for the additional damages.

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Definitions:

Elasticity Of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good.

Inputs

Resources used in the production process, including labor, capital, materials, and energy.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Total Revenue

The overall income generated by a business from its sale of goods or services, calculated as the price per unit times the number of units sold.