Property Management
A NC property manager who accepts a cash payment from a tenant and provides only a verbal receipt has violated:
ANo professional standards
BGood record-keeping practices and potentially license law requirements to maintain proper accounting records✓ Correct
COnly the tenant's right to privacy
DThe NC Deceptive Trade Practices Act only
Explanation
Property managers must maintain proper accounting records of all cash received. Failing to provide written receipts and maintain records may violate professional standards and the broker's duty of accounting.
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