The Objective of Rent Controls Is to

question 41

Multiple Choice

The objective of rent controls is to

• A) ensure an adequate supply of rental housing for the poor.
• B) keep rents below levels that would be observed in a freely competitive market.
• C) encourage the construction of new rental units.
• D) raise revenue for the local government.

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Definitions:

Sales Returns

Goods returned by the buyer to the seller, leading to a reduction in the seller's revenue.

Contra-Revenue Account

An account that is used to record deductions from gross revenue, resulting in net revenue.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and profits or losses.