The Amount That Currently Would Be Required to Replace the Service

question 231

Multiple Choice

The amount that currently would be required to replace the service capacity of an asset is called:

• A) Risk approach
• B) Market approach
• C) Income approach
• D) Cost approach

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Definitions:

Good Faith

The honest intention to act without taking an unfair advantage over another party during the execution of deals, contracts, and transactions.

Ultra Vires Defense

A legal defense arguing that a corporation acted beyond the scope of its powers as defined in its charter or laws.

State's Attorney General

The chief legal advisor and law enforcement officer of a state or territory, responsible for representing the public interest and prosecuting legal actions.

Shareholder

An individual or entity that owns one or more shares of stock in a corporation, giving them certain rights and interests in the company.