B. The sales comparison method calls for differences between the comparable properties and the subject property to be accounted for by making adjustments to each comparable property individually to render it as much like the subject property as possible.
B. Total depreciation from all sources, also known as accrued depreciation, is calculated on any building where it is present regardless of age and is then deducted from either the reproduction cost or replacement cost.
D. The principle of substitution says that the maximum value of a property will be related to the cost of obtaining a property of similar usefulness.
D. Plans and specifications should reflect the legal requirements, but the ultimate source of the required insulations standards is the building code.
A. All the other windows open only partially or not at all (fixed). The casement window completely swings out opening 100% of the glass area.
A. This is definitional—the flat roof is usually constructed in layers.
C. Choice D is actually an architectural style not a type of framing.
C. This is definitional. Purchasing power—how much a dollar will buy—is affected negatively by rising inflation.
C. When a property is first purchased, equity is initially the amount of money invested by the investor. Leverage—the use of borrowed funds—allows the investor to use less of her own money. Since the dollar amount of return from the property remains the same regardless of how much of her own cash the investor puts into the investment, the less cash she puts in, the higher the percentage of return.
C. Land never depreciates. Equipment and furniture generally depreciate in value.
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