ch.6 pg.13

In most situations, which of these would be considered an example of a superadequacy? gold-plated faucets R-90 insulation in walls and ceilings foundation walls that are 4 feet thick all of these

all of these

Depreciation is defined as a loss in property value from factors inside the property only any cause factors outside the property only ordinary wear and tear

any cause

Which of these is NOT a cause of functional obsolescence? layout problems inadequacies superadequacies deferred maintenance

deferred maintenance

The difference between the cost of an improvement and its market value on the effective date of the appraisal is

depreciation

The difference between the cost of an improvement and its market value on the effective date of the appraisal is depreciation obsolescence effective age opportunity cost

depreciation

Which type of depreciation is generally considered to be incurable? physical deterioration functional obsolescence external obsolescence all of these

external obsolescence

A 10-year-old house will always have physical deterioration functional obsolescence external obsolescence all of these

physical deterioration

True or False: External obsolescence can be shared between building and land.

true

Physical deterioration is best described as factors outside a property that diminish its value always incurable outmoded items wear and tear

wear and tear