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:

Financial Resources

Assets in the form of cash or other securities available to an individual or organization for spending, investing, or other uses.

Organizational Culture

The values, ideas, attitudes, and norms of behavior that are learned and shared among the members of an organization.

Strategic Business Units

Specialized, autonomous divisions within a larger corporation, each responsible for a distinct product line or market segment and having its own strategy and objectives.

Long-term Goals

Objectives or targets that an individual, group, or organization aims to achieve over an extended period, typically beyond one year.