When a Local Government Regulates the Way in Which Homeowners

question 62

Multiple Choice

When a local government regulates the way in which homeowners may use their land, this is an exercise of the government's:

• A) fiduciary powers
• B) obligatory powers
• C) police powers
• D) derivative powers
• E) olfactory powers

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Definitions:

Contingent Liability

A potential financial obligation that may occur, depending on the outcome of a future event.

Future Event

An occurrence or situation that has not yet happened but is expected or anticipated.

Accounts Payable

Liabilities of a business that are owed to creditors for goods and services purchased on credit.

Estimated

An approximate calculation or judgment regarding a number, value, or size based on available data, often used in planning and forecasting.