The Term for the Estimated Amount That Must Be Spent

question 12

True/False

The term for the estimated amount that must be spent to replace an asset is net realizable value.

---

Definitions:

Statute

A written law passed by a legislative body at the federal, state, or local level.

Property Claim

A legal assertion by an individual or entity over the ownership or compensation for loss or damage to property.

Judgment Creditor

A person or entity that has been awarded a monetary judgment against a debtor by a court, giving them the right to collect the debt.

Motion

In a civil case, a request made by either party that asks a judge or a court to issue an order in that party's favor.