D. Recent selling prices of comparable properties in the neighborhood. All of the following are correct statements concerning depreciation, except A. a loss of value from any cause. B. the subject of wear and tear on investment property or property used in a trade or business. C. includes all of the influences that reduce the value of a property below its replacement cost new. D. always concerned with intrinsic value and not concerned with factors outside.
Physical deterioration results from A. action of the elements.
C. both A and B. B. normal wear and tear. When changing tastes and standards cause an existing house to lose value, there is A. physical deterioration. C. functional obsolescence. B. economic obsolescence. When this building was constructed, the neighborhood was exclusively residential.