Glen says, I just added a fireplace to the living room of my house in Key West,
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Glen says, “I just added a fireplace to the living room of my house in Key West, Florida. I had the house appraised before adding the fireplace and the value was $225,000. The fireplace cost me $75,000, but I'm sure I'll recoup that money with a good rate of return when I sell the house one day.” What evaluation principle has Glen ignored?
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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