Which of the Following Statements Is Not True of Cooperative

question 35

Multiple Choice

Which of the following statements is not true of cooperative housing?

• A)The cooperative holds the mortgages on the individual units.
• B)The cooperative has a corporate form with the individual owners holding shares in the corporation.
• C)The shareholders lease the individual units from the corporation.
• D)The shareholders can sell their ownership in the cooperative to anyone they want.

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Definitions:

Annual Payments

Regular payments made once a year, often associated with loans, annuities, or investment returns.

Rate of Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment’s cost.

Lottery

A form of gambling involving the drawing of numbers at random for a prize.

Compounded Monthly

Interest on an investment or loan calculated monthly and added to the principal sum for future interest calculations.