Which of the Following Statements About Security Deposits Is False

question 15

Multiple Choice

Which of the following statements about security deposits is false?

• A)Security deposit laws generally require landlords to provide tenants with a written accounting of their security deposits and any portions being withheld.
• B)Local law dictates when a landlord must provide accounting for a security deposit.
• C)The landlord's failure to comply with the law on security deposits may cause the landlord to experience adverse consequences,which vary state by state.
• D)Most states require the security deposit to be in an interest-bearing account when the tenancy term is more than three years.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share.

Quantity Effect

The impact on total revenue when the quantity sold changes while the price remains the same.

Marginal Cost

The increased expenditure resulting from making an additional unit of a product or service.

Oligopoly

A market structure characterized by a small number of firms that have significant market power, leading to limited competition.