Which of the following techniques would an appraiser mainly rely on to appraise a lot on which the buyer intends to build a single-family residence:
A: Capitalization approach;
B: Market approach;
C: Cost of construction approach;
D: Correlation of (A) and (C)
Answer: B: Market approach;
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Which of the following statements about the times-interest-earned ratio is true?
A) A lower ratio indicates a higher debt paying ability. B) Debt reduction leads to an increase in interest expense. C) The times-interest-earned ratio is also called the interest-coverage ratio. D) The times-interest-earned ratio is calculated by dividing gross income by interest expense.
Acme was a petroleum wholesaler who supplied heating oil to retail oil companies. When oil producing countries make enough oil available to meet world needs, but increase the base price from $70 a barrel to $700 a barrel. Acme will be out of business if it sells to its customers at their contract price. What is Acme's best defense to breach of contract claims if it increases the costs to the retailers?
a. Economic duress b. Commercial impracticability c. Objective impossibility d. Commercial frustration