Property Valuation
The going-concern value of an Indiana hotel differs from its real property value because it includes:
AOnly the value of the real property
BThe combined value of real property, personal property, and intangible assets (including the business itself)✓ Correct
COnly the value of the business enterprise
DOnly the value of the personal property
Explanation
Going-concern value includes not just the real estate but also personal property (furniture, fixtures, equipment) and intangible assets (brand, reservations, operating systems), representing the total value of the operating business.
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