is DRC? When is DRC used? Valuer qualifications Settling the terms of engagement Assessing replacement cost The site value of a specialised property Calculating the cost of the buildings and site improvements of a specialised property Assessing depreciation Other considerations Final reconciliation Reporting Appendix A – Checklist Appendix B – PS 5.4‚ 5.5 and 5.6 iv 1 2 3 5 6 7 8 10 13 18 19 20 21 23 EFFECTIVE FROM 1 JULY 2007 VALUATION INFORMATION PAPER NO. 10 | iii RICS Information
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Mutual Funds and Other Investment Companies Multiple Choice Questions 1. Which one of the following invests in a portfolio that is fixed for the life of the fund? A. Mutual fund B. Money market fund C. Managed investment company D. Unit investment trust 2. ______ are partnerships of investors with portfolios that are larger than most individual investors but are still too small to warrant managing on a separate basis. A. Commingled funds B. Closed-end funds C. REITs D. Mutual funds 3. A
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pension funds hold bonds as their asset‚ they also have obligations as liability. Lower interest rate‚ namely a lower discount rate‚ on one hand‚ increases bonds’ return‚ on the other hand‚ it also increase pension funds’ liabilities‚ which is the discounted value of future obligations. Moreover‚ bonds in asset side are usually in shorter term than long-term liabilities‚ and therefore are less sensitive to interest rate change. As a result‚ the increase in liability exceeds the value increase in assets
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Delegated Legislation is law made by a body other than Parliament. Parliament gives others the power to pass delegated legislation in a parent or enabling act. Act of Parliament (Statutes) - Primary Legislation Delegated Legislation (i.e. statutory Instruments) - Secondary Legislation The Town Hall in Rugby - local borough councillors can create secondary legislation in the form of bylaws Why is Delegated Legislation Needed? Lack of Parliamentary time Allow detail to be added
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Capital Budgeting Assignment #2 Breana N. Rainge 23. Bauer Industries is an automobile manufacturer. Management is currently evaluating a proposal to build a plan that will manufacture lightweight trucks. Bauer plans to use a cost of capital of 12% to evaluate this project. Based on extensive research‚ it has prepared the following incremental free cash flow projections (in millions of dollars): | Year 0 | Year 1-9 | Year 10 | Revenues | | 100.0 | 100.0 | -Manufacturing expenses (other
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Chapter 2 International Flow of Funds Lecture Outline Balance of Payments Current Account Capital and Financial Accounts International Trade Flows Distribution of U.S. Exports and Imports U.S. Balance of Trade Trend International Trade Issues Events That Increase International Trade Trade Friction Factors Affecting International Trade Flows Impact of Inflation Impact of National Income Impact of Government Policies Impact of Exchange Rates Interaction of Factors Correcting
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application of the literal rule is likely to result in‚ what appears to the court‚ to be an obviously absurd result” (Source B). For example‚ in R v. Allen (1872)‚ the word ‘marry’ was interpreted as meaning ‘to go through a ceremony of marriage’‚ because using it literal meaning would produce the absurd result that the offence of bigamy would be impossible to commit. The Golden Rule was also applied in Re Sigsworth (1935). A son murdered his mother and she had not made a will. Under the statute setting
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Subsidiary Legislation Subsidiary legislation‚ also referred to as delegated legislation is the law that is brought into being by authorities‚ persons or bodies other than Parliament‚ under power conferred by either the Constitution or Parliament. The purpose and limits of such subsidiary or subordinate law making powers will normally be set out in the enabling Act of Parliament or the Constitution. There are several reasons why it is necessary to have subsidiary legislation: 1. Pressure on Parliamentary
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Alabama State University College of Business Administration ACT 532 Advanced Fund Accounting Exam III November 20‚ 2012 1) Governments must report nonspendable fund balance in a governmental fund ’s balance sheet for A) Inventory. B) Prepaid assets. C) Land. D) All of the above. E) Items A and B only. Answer: 2) The following benefits are examples of other postemployment benefits (OPEB) except for A) Health care insurance. B) Pension benefits. C) Vision insurance. D) Life insurance
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INTRODUCTION Delegated legislation refers to the rules and regulations‚ which are passed by some person or body under some enabling parent legislation. The Interpretation Act 1967 defines it as ‘any proclamation‚ rule‚ regulation‚ order‚ by-law or other instrument made under any Act‚ Enactment‚ Ordinance‚ or other lawful authority and having legislative effect’. BODY The Parliament and State Legislative Assemblies conferred legislative powers from the Federal Constitution. However‚ only small
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