If a Change of Law Allows Renters the Right to Vacate

question 63

True/False

If a change of law allows renters the right to vacate a property 90 days after receiving an eviction notice rather than 30 days after the eviction notice,the supply curve of apartments will shift upward and to the left once the law is enacted.

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Definitions:

Cash Basis

An accounting method where revenues and expenses are recorded when cash is received or paid, not when they are incurred.

Property, Plant, Equipment

Tangible assets owned by a company used in operations and not intended for resale, such as buildings, machinery, and vehicles.

Cash Dividends

Distributions of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders in the form of cash.

Balance Sheet

A financial statement that summarizes a company’s assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial condition.