The maximum amount of security deposit a landlord may demand from a prospective tenant depends upon:
a. the total number of tenants who plan to occupy the premises
b. the number of children occupying the unit
c. the term of the lease and whether the unit is furnished or unfurnished
d. economic competition from nearby properties
Answer: c. the term of the lease and whether the unit is furnished or unfurnished
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Overton, Inc had the following transactions in 2017, its first year of operations
• Issued 8,000 shares of common stock. Stock has par value of $0.01 per share and was issued at $40.00 per share. • Earned net income of $200,000. • Paid dividends of $8.00 per share. At the end of 2017, what is total stockholders' equity? A) $320,000 B) $456,000 C) $136,000 D) $584,000
One of the principal purposes of "RESPA" (Real Estate Settlement Procedures Act) is:
A: To fix the settlement costs in all real estate transactions; B: To fix the prices of settlement costs on residential property built for 1-to-4 families; C: To provide the prospective buyer the opportunity to shop for settlement services; D: To standardize closing settlement services in all parts of the country.