Property Valuation
What is a 'going concern value' appraisal in Rhode Island?
AAn appraisal of a property that is currently for sale
BAn appraisal of a business enterprise that includes real property, personal property, and intangible assets (such as business goodwill) together✓ Correct
CA value estimate for an ongoing construction project
DAn appraisal for a property in active bankruptcy
Explanation
Going concern value is the value of an operating business enterprise, including real property, personal property (furniture, fixtures, equipment), and intangible assets (goodwill, business value). It is used for hotels, restaurants, and other operating businesses.
Related Rhode Island Property Valuation Questions
- A Rhode Island appraiser's final appraisal report must be signed by:
- Paired sales analysis is used by appraisers to:
- What is 'assessed value' in Rhode Island and how is it used?
- The principle of substitution in appraisal states that:
- What is 'variance' (statistical) in the context of Rhode Island comparable sales selection?
- When appraising a Newport, Rhode Island waterfront property, which factor would most significantly increase value above comparable inland properties?
- What is the 'reproduction cost' versus 'replacement cost' distinction in Rhode Island appraisal?
- A Rhode Island assessor revalues all properties in the city every five years. This process is called:
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →