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In the Cost Approach to Value, Land Value Can Be

question 20

True/False

In the cost approach to value, land value can be estimated by comparing sales of vacant land that are similar to the subject land.

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Definitions:

Accurate

Characterized by being correct, precise, and free of errors, often used to describe information, measurements, or performance.

Long-term Memory

A type of memory responsible for the storage of information over an extended period, potentially indefinitely.

Hermann Ebbinghaus

A German psychologist known for his pioneering work in the study of memory, including the discovery of the forgetting curve and the spacing effect.

Forgetting

The loss of information from long-term memory, reflecting a failure in either storing, retaining, or recalling the information.

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