Arkansas Real Estate Practice Exam

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What details must cash receipts contain?

Date, amount, reason, property identity, tenant's name, payer, payee, receiver's signature
Tenant's signature, date, amount, receipt number
Amount, bank account number, date, tenant's name
Property address, date, tenant's name, amount, bank details

The correct answer is: Date, amount, reason, property identity, tenant's name, payer, payee, receiver's signature

Cash receipts must contain the date, amount, reason, property identity, tenant's name, payer, and receiver's signature. These are all crucial details that are needed to keep track of payments received. Option B is incorrect because it does not include the reason for the payment or the property identity, which are both important for record-keeping. Option C is incorrect because it includes unnecessary information, such as the bank account number, and it does not include the reason for the payment or the property identity. Option D is incorrect because it includes the property address instead of the property identity, and it also does not include the reason for the payment or the payer's name.