A critical and vital consideration when using the income approach is:
a. adjusting the sales prices of comparables to make them like the subject property.
b. calculating operating expenses.
c. selecting an appropriate capitalization rate.
d. determining accrued depreciation.
Answer: c. selecting an appropriate capitalization rate.
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Theo is injured at work and files a workers' compensation claim, which is administered by the workers' compensation agency in his state. His employer disputes the extent of Theo's injuries. The case is heard by an administrative law judge (ALJ), who decides the case in the employer's favor. Theo's attorney tells him that his case cannot be appealed to a court because
a. he does not have standing to appeal an administrative decision, only the employer could do that. b. the decision of the ALJ is final in all administrative challenges. c. he has not first appealed the case to the workers' compensation board that heads the state agency. d. there is not an actual controversy that qualifies for judicial proceedings.
Which of the following is true regarding an oral agreement for the sale of real property? It is:
A. unenforceable; it violates the statue of frauds B. void: it violates the statue of frauds C. voidable: it violates the statue of frauds D. valid: assuming both parties are above the age of majority