Examlex
Which statement is FALSE?
Fair Market Value
The price at which an asset would sell in the marketplace, assuming both buyer and seller are knowledgeable, willing, and under no pressure to buy or sell.
Trade-In Allowance
The amount credited to a buyer for trading in an old item towards the purchase of a new item, reducing the price of the new purchase.
Land Improvements
Enhancements to a plot of land such as landscaping, lighting, and paving, that are intended to make the land more usable and increase its value.
Fences
Structures built to enclose or separate areas, typically made out of wood, metal, or other materials, serving various purposes such as privacy, security, or decorative.
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