The Advantage of Outcome-Based Appraisal Systems Is That They Eliminate

question 28

True/False

The advantage of outcome-based appraisal systems is that they eliminate subjectivity and the potential for rater error.

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Definitions:

Rules-based

A regulatory approach that relies on detailed and specific standards for compliance, often contrasted with principles-based systems.

Bargain Purchase Option

A lease provision that allows the lessee to purchase the leased property at a price significantly lower than its expected fair market value at the end of the lease term.

Executory Costs

Operating expenses associated with a lease, including insurance, maintenance, and taxes, usually assumed by the lessee.

Guaranteed Residual Value

The minimum value guaranteed to the lessor or the lessee regarding the value of an asset at the end of a lease term.