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Questions and Answers
Which of the following best describes the acquisition cost of machinery for tax purposes?
Which of the following best describes the acquisition cost of machinery for tax purposes?
- The cost of purchasing the machinery only
- The cost of purchasing the machinery plus brokerage, customs duties, and taxes
- The cost of purchasing the machinery plus freight and insurance charges
- The cost of purchasing the machinery plus transportation, handling, and installation fees (correct)
What does 'actual use' refer to in the context of property valuation?
What does 'actual use' refer to in the context of property valuation?
- The purpose for which the property is primarily used (correct)
- The specific date of valuation
- The assessment level set for the property
- The basis for classifying and valuating the property
What is the definition of 'appraisal/valuation' in the context of property assessment?
What is the definition of 'appraisal/valuation' in the context of property assessment?
- The act or process of estimating the value of a property for a specific purpose (correct)
- The conclusion resulting from a logical analysis of facts
- The market value of a property as defined by the appraiser
- The specific date of valuation for a property
Which approach to value considers the cost of acquiring land and building a new property with equal utility or adapting an old property to the same use with no undue cost due to delay?
Which approach to value considers the cost of acquiring land and building a new property with equal utility or adapting an old property to the same use with no undue cost due to delay?
What is the term used to describe the value remaining after deducting depreciation from the replacement cost?
What is the term used to describe the value remaining after deducting depreciation from the replacement cost?
Which method of valuation involves comparing the property to similar properties that have sold recently?
Which method of valuation involves comparing the property to similar properties that have sold recently?
What is the rate used to convert a future monetary sum into present value called?
What is the rate used to convert a future monetary sum into present value called?
Which method is used to find the implied or expected rate of return of a project in discounted cash flow analysis?
Which method is used to find the implied or expected rate of return of a project in discounted cash flow analysis?
What is the underlying assumption of the Investment Method in valuations?
What is the underlying assumption of the Investment Method in valuations?
What are lands used to produce crops or forage for livestock and require the application of water other than natural rainfall called?
What are lands used to produce crops or forage for livestock and require the application of water other than natural rainfall called?
What is the term used to refer to the manner of utilization, allocation, development, and management of land?
What is the term used to refer to the manner of utilization, allocation, development, and management of land?
Which of the following is the correct definition of DCF analysis?
Which of the following is the correct definition of DCF analysis?
What is the term used to describe a non-possessory interest in landed property conveying use, but not ownership, of a portion of that property?
What is the term used to describe a non-possessory interest in landed property conveying use, but not ownership, of a portion of that property?
Which term refers to a loss in value due to factors outside the subject property?
Which term refers to a loss in value due to factors outside the subject property?
What is the procedure called where the value of land or improvements can be determined by deducting the value of a known component from the total sale price or value?
What is the procedure called where the value of land or improvements can be determined by deducting the value of a known component from the total sale price or value?
Which one of the following is the correct definition of 'Arm's Length Transaction'?
Which one of the following is the correct definition of 'Arm's Length Transaction'?
What is the definition of 'Assessed Value'?
What is the definition of 'Assessed Value'?
What is the definition of 'Assessment'?
What is the definition of 'Assessment'?
What is the definition of 'Capitalization'?
What is the definition of 'Capitalization'?
Which one of the following is the correct definition of Goodwill?
Which one of the following is the correct definition of Goodwill?
Which one of the following is the correct definition of Ground Lease?
Which one of the following is the correct definition of Ground Lease?
Which one of the following is the correct definition of Improvements?
Which one of the following is the correct definition of Improvements?
Which one of the following is the correct definition of Income Multiplier or Years' Purchase?
Which one of the following is the correct definition of Income Multiplier or Years' Purchase?
