In the Case of a Taking,just Compensation Is Defined As

question 22

Multiple Choice

In the case of a taking,just compensation is defined as:

• A)the fair market value of the property plus its sentimental value.
• B)the current fair market value plus any expected future value from the taking.
• C)the current fair market value of the property involved in the taking.
• D)the fair market value of the property if it were to be sold to a developer.

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Definitions:

Selling Price

The price at which a good or service is offered to a buyer.

Perpetual Inventory System

An inventory accounting system where updates are made continuously as transactions occur, providing a real-time inventory level.

Perpetual Inventory System

A system of inventory accounting that instantly logs inventory sales or purchases using computerized point-of-sale systems and software for enterprise asset management.

Gross Method

An accounting method where purchases are recorded at their full (gross) cost without deducting any cash discounts.