A landlord records the collection of a tenant's security deposit as a(n)

Name: A landlord records the collection of a tenant's security deposit as a(n)
Brand: Quizplus
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Question

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A security deposit is collected to protect the landlord from any damages or unpaid rents that the tenant may cause. It is considered a liability because the landlord owes the tenant the return of the security deposit at the end of the lease term, assuming all lease obligations have been fulfilled.

A Landlord Records the Collection of a Tenant's Security Deposit