Several Techniques Can Be Used to Obtain an Indication of Land

question 9

Multiple Choice

Several techniques can be used to obtain an indication of land value. The cost approach to valuation would most likely be used for which of the following properties?

• A) One-family residential property
• B) Retail office space
• C) Education facility
• D) High-rise apartments

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Definitions:

Reorder Point

The inventory level at which an order should be placed to replenish stock before it runs out, ensuring continuous operation.

Annual Demand

The total quantity of a product or service that consumers are willing and able to purchase over the course of a year.

Carrying Cost

The expenses incurred by holding inventory or assets, including storage, insurance, and opportunity costs.

Order Costs

Expenses associated with making and processing an order for goods or services.