Which of the Following Is Not a Disadvantage of Home

question 5

Multiple Choice

Which of the following is not a disadvantage of home ownership?

• A) Its lack of short-term liquidity should immediate sale become necessary.
• B) The responsibility for maintaining the home and grounds; and
• C) The noncyclical nature of home prices over shorter periods of time.
• D) All of the above are disadvantages of home ownership.
• E) None of the above is a disadvantage of home ownership.

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Definitions:

Tax Effect

The impact financial transactions have on the amount of tax payable by an individual or corporation.

Revaluation

The process of adjusting the book value of a company's assets to reflect their current market values

OCI

Other Comprehensive Income represents gains and losses that are not included in net income on the income statement.

IAS 16

International Accounting Standard 16 outlines the accounting treatment for most types of property, plant, and equipment, including their recognition, measurement, and disclosure requirements.