A Real Estate Agent Who Learns That a Property Comparable

question 14

Multiple Choice

A real estate agent who learns that a property comparable to their client's property, in the same street, sold for a price well above that for which their client's property is listed on the market should:

• A)Pass this information on to their client.
• B)Suggest to their client that the asking price be increased.
• C)Advise their client not to sell their property.
• D)Disregard the information.

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Definitions:

Cost of Goods Sold

Represents the direct costs attributable to the production of the goods sold by a company.

Average Cost Formula

A method used in accounting to calculate the cost of goods sold and ending inventory by averaging the cost of goods available for sale.

Perpetual Inventory System

An inventory management system that continuously updates the quantity and value of inventory on hand after each transaction.