The Most Important Consideration in an Appraisal Is The

question 4

Multiple Choice

The most important consideration in an appraisal is the:

• A) methods used
• B) experience, license, and integrity of the appraiser
• C) data gathered
• D) inspection of the title records

---

Definitions:

Absorption Costing

A system of accounting that includes every manufacturing expense, from direct materials and labor to variable and fixed overheads, into the calculation of a product’s cost.

Variable Costing

A method of inventory costing that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold.

Absorption Costing

An accounting method that includes all direct costs and fixed and variable overhead costs in the cost of a product.

Net Income

The company's net income following the deduction of all expenditures and taxes from its total revenue.