Vacant land, in an unusually inactive market is best appraised by:
a. highest and best use
b. market approach
c. cost approach
d. residual value
Answer: a. highest and best use
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As a general rule, about 20% of a company's customers generate a loss instead of a profit for the company
Indicate whether the statement is true or false
Which of the following, if true, undermines the customer representative's ethical position?
A) The representative knows that a snowstorm has disrupted travel at the hub through which the faucets will be shipped, so there is no way they will arrive by Tuesday. B) The contract with the home-building company is important to win, as the plumbing supply firm is short on cash and needs the proceeds of the deal to pay off some pressing debts. C) The home-building firm is notorious for finishing its units well after the scheduled date, so a delay in the faucets will not make that much difference. D) The housing slowdown seems likely to go on in the firm's area, so it's probable that shipments will continue to come in a day early. E) The customer representative and the head engineer for the home-building business play golf together regularly.