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1. A condominium has an economic life of 95 years, and an effective age of 20 years. The current cost to reproduce the improvements is $450,000. Using the straight-line method, what is the amount of depreciation that should be charged against this structure?   2.Which of the following statements describes the reconciliation process?   a. A mathematical process that uses a strict set of rules   b. Uses factual data and statistics, but is ultimately not a mathematical process   c. The widening of a range of value estimates   d. Entirely arbitrary and makes no use of factual data or statistics

1. A condominium has an economic life of 95 years, and an effective age of 20 years. The current cost to reproduce the improvements is $450,000. Using the straight-line method, what is the amount of depreciation that should be charged against this structure?   2.Which of the following statements describes the reconciliation process?   a. A mathematical process that uses a strict set of rules   b. Uses factual data and statistics, but is ultimately not a mathematical process   c. The widening of a range of value estimates   d. Entirely arbitrary and makes no use of factual data or statistics

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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this is for real estate apprasial. that just wasn't a subject choice.

 

1. A condominium has an economic life of 95 years, and an effective age of 20 years. The current cost to reproduce the improvements is $450,000. Using the straight-line method, what is the amount of depreciation that should be charged against this structure?

 

2.Which of the following statements describes the reconciliation process?

 

a. A mathematical process that uses a strict set of rules

 

b. Uses factual data and statistics, but is ultimately not a mathematical process

 

c. The widening of a range of value estimates

 

d. Entirely arbitrary and makes no use of factual data or statistics

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