The negotiability of an instrument is affected if it is undated.

Which of the following is true about lower-of-cost-or-market?

a. It is inconsistent because losses are recognized but not gains. b. It usually understates assets. c. It can increase future income. d. All of these.

A building valued at 195,000 has a gross income of 27,000 and expenses of 45% what is its cap rate?

A) 6.2% B) 7.6% C) 13.8% D) 45%