Question

The real estate recovery fund will be refunded if on June 30 the fund balance falls below?

1) 30,000
2) 100,000
3) 300,000
4) 600,000

Answer 1

Answer: The real estate recovery fund will only be refunded if the fund balance falls below $100,000 on June 30.

Step-by-step explanation:

The real estate recovery fund will be refunded if on June 30 the fund balance falls below $100,000. This means that if the fund balance is equal to or above $100,000 on June 30, there will be no refund.

However, if the balance is below $100,000, the fund will be refunded.

For example, if the fund balance on June 30 is $90,000, which is less than $100,000, the fund will be refunded. On the other hand, if the balance is $110,000 or more, there will be no refund.