Which term refers to 'someone who determines the value of something'?

Prepare for the Last Mega Goal Test with comprehensive quizzes. Practice with flashcards and multiple-choice questions. Each question provides in-depth explanations to ensure you're exam-ready.

Multiple Choice

Which term refers to 'someone who determines the value of something'?

Explanation:
Determining value is what an appraiser does. An appraiser analyzes market data, the condition of the item, and comparable sales to estimate its worth and often prepares a formal report for purposes like selling, insuring, or securing financing. The other terms don’t describe a person who assesses value: accustomed means familiar, evolve means to develop over time, and neutral means unbiased or not taking sides.

Determining value is what an appraiser does. An appraiser analyzes market data, the condition of the item, and comparable sales to estimate its worth and often prepares a formal report for purposes like selling, insuring, or securing financing. The other terms don’t describe a person who assesses value: accustomed means familiar, evolve means to develop over time, and neutral means unbiased or not taking sides.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy