CHAPTER 2

PRICE is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore

• TRUE

• FALSE

The amount of money that something is worth

• VALUE

• PRICE

• COST

The meaning of..................... is the amount of money given or set as consideration for the sale of a specified thing.

A place where parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers.

List 10 types of value

INVESTOR TO IDENTIFY INVESTMENT OBJECTIVES, MAY BE LOWER OR HIGHER THAN ITS MARKET VALUE

• Salvage Value

• Investment Value

• Value in Use

• Special value

PRICE THAT WOULD BE RECEIVED TO SELL AN ASSET OR PAID TO TRANSFER A LIABILITY IN AN ORDERLY TRANSACTION BETWEEN MARKET PARTICIPANTS AT THE MEASUREMENT DATE

The estimated value of an asset at the end of its useful life. It represents the amount that a company could sell the asset for after it has been fully depreciated

• Fair Value

• Salvage Value

• Market Value

Define the market value

RENTAL VALUE IS ESTIMATED AMOUNT FOR WHICH AN INTEREST IN REAL PROPERTY ON THE .......................... BETWEEN A WILLING LESSOR AND A WILLING LESSEE ON APPROPRIATE LEASE TERM IN AN ARMS LENGTH TRANSACTION AFTER PROPER MARKETING WHEREIN THE PARTIES HAD EACH ACTED KNOWLEDGEABLY, PRUDENTLY AND WITHOUT COMPULSION