Which of the Following Is the Basic Test Used to Determine

question 78

Multiple Choice

Which of the following is the basic test used to determine "just compensation," as required by the Takings Clause?

• A)The fair market value of the property at the time of the taking plus any equity the owner has accumulated
• B)The fair market value of the property at the time of purchase
• C)The fair market value of the property at the time of the taking
• D)The original purchase price of the property plus any incidental costs for relocating

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Definitions:

Loan Repayment

The process of paying back borrowed money, typically in installments over a set term.

T-Bill

Short-term government debt security with a maturity of less than one year.

Simple Interest

A method of calculating interest where it is applied only to the principal amount, not on the accumulated interest.

Profit

The financial gain obtained when revenue from business activities exceeds the expenses, costs, and taxes involved in operating.