Statutes or Ordinances Designed to Prevent Abuse of Security Deposits

question 29

Multiple Choice

Statutes or ordinances designed to prevent abuse of security deposits by landlords:

• A)limit the amount the tenant may pay.
• B)require that the security deposit be refundable.
• C)allow landlords to withhold portions even when the tenant causes ordinary damage to the property.
• D)prohibit landlords from taking advance payments of rents from tenants.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Retained Earnings

The portion of net income that is kept by a company rather than distributed to its shareholders as dividends, often used for reinvestment.

Retained Earnings

The portion of net income that is retained by a company rather than distributed to its shareholders as dividends.

Net Operating Income

The profit generated from a company's normal business operations, excluding non-operating income and expenses.