A Lease Provision That Provides That Rent Will Increase in a Predetermined

question 4

Multiple Choice

A lease provision that provides that rent will increase in a predetermined amount on a predetermined date is known as a:

• A) CPI escalator.
• B) bump increase.
• C) percentage rent clause.
• D) net lease.

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Definitions:

EFT Deposit

Stands for Electronic Funds Transfer deposit, a method of transferring money directly from one bank account to another electronically.

Service Charge

A fee collected to pay for services related to the primary product or service being purchased, often added to bills in restaurants, banking, and lodging industries.

Outstanding Checks

Checks that have been written and recorded in the accounting records but not yet cleared or cashed by the bank.

Double Payment

A financial error where a payment is mistakenly sent or processed twice for the same invoice or obligation.