Prior Sales of the Subject Property Should Be Noted, but Are

question 9

True/False

Prior sales of the subject property should be noted, but are always irrelevant to the value of land.

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Definitions:

Accounting Cycle

The collective process of recording and processing the accounting events of a company, from when the transaction occurs, to its representation in the financial statements, followed by closing the accounts.

Accounting Equation

Assets equal liabilities plus owners’ equity.