Donald Wanted to Buy a House in the Country, So

question 55

Multiple Choice

Donald wanted to buy a house in the country, so he sought advice from his cousin Evan. Evan explained the advantages and disadvantages of home ownership; however, he had some information incorrect. Which of the following is incorrect?

• A) An advantage is that Donald can deduct mortgage interest and real estate taxes.
• B) A disadvantage is that Donald is responsible for maintenance and costs of repairs and home improvements.
• C) An advantage is that the down payment required is less than the security deposit for a rental.
• D) A disadvantage is that real estate taxes are a major expense for homeowners.
• E) An advantage is that Donald can paint his house bright purple with green trim to match his college's colors.

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Definitions:

Recognition

The cognitive process of identifying and acknowledging something as having been previously seen, heard, known, or experienced.

Recall

The act of retrieving information or events from the past in the absence of an explicit cue.

Recall

The mental process of retrieving information or events from the past without the help of cues.

Mnemonist

A Mnemonist is an individual with the ability to remember and recall unusually large amounts of information, often in great detail.