Choose the One Most Appropriate Answer for Each

question 43

Multiple Choice

Choose the one most appropriate answer for each.
-corrections made to comparable properties to account for differences between them and the subject property

• A)adjustments
• B)appraisal
• C)buyer's market
• D)capitalize
• E)comparables
• F)cost approach
• G)curable depreciation
• H)depreciation
• I)functional obsolescence
• J)gross rent multiplier (GRM)
• K)highest and best use
• L)income approach
• M)incurable depreciation
• N)market approach
• O)net operating income (NOI)
• P)operating expenses
• Q)physical deterioration
• R)reproduction cost
• S)scheduled gross income
• T)subject property

Grasp the concept of T accounts, their structure, and the principles of debit and credit sides.

Comprehend the purpose and importance of the journal in recording transactions and its role in the accounting process.

Identify and classify accounts according to their normal balances (debit or credit) and understand the concept of normal balance for different types of accounts.

Recognize the classifications of assets, including distinctions between physical and intangible assets and their impact on a company's financial position.

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Definitions:

Prejudice

Preconceived opinion or bias against an individual or group based on their characteristics, often without proper knowledge or experience.

Discrimination

Unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, sex, or disability.

Without Prejudice

A legal term denoting that actions, statements, or documents are made or presented without any loss or waiver of rights, privileges, or legal standings.

Prejudice

Prejudice is a preconceived opinion or judgment towards people or a group without sufficient knowledge, reason, or direct experience.