Arkansas Real Estate Practice Exam

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Prepare for the Arkansas Real Estate Exam with comprehensive quizzes featuring multiple-choice questions and detailed explanations. Boost your confidence and knowledge, ensuring you're ready to tackle the licensing exam successfully!

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What does a property management owner's ledger document?

Only the property's expenses.
The personal information of the tenant.
All monies received and disbursed for each property management agreement.
Only the income from property management fees.

The correct answer is: All monies received and disbursed for each property management agreement.

A property management owner's ledger is a financial document that tracks all monetary transactions related to a property management agreement. This includes both income from property management fees and any expenses incurred on behalf of the property, such as repairs and maintenance. Option A is incorrect because it only includes expenses and not income. Option B is incorrect because it only includes personal information and not financial transactions. Option D is incorrect because it only includes income from fees and not expenses. The correct answer, C, includes all monies received and disbursed for each property management agreement, providing a comprehensive overview of the finances for the property.