PLEASE TRY AND ANSWER ALL 3

1.__________ are those expenses necessary to maintain the property and to help ensure the continued production of income.

A. income expenses

b. operating expenses

c. net expenses

d. sales expenses

2. The cost approach recognizes that there are two major components in real estate. They are:

a. cost and value

b. land and improvements

c. supply and demand

d. income and expenses

3. __________ obsolescence takes place when influences that are external to the property adversely affect that property.

a. functional

b. external

c. deferred

d. physical