A local school has been destroyed by fire. Nothing has been salvaged and the school will have to completely rebuilt. What are the three methods of determining the cost of rebuilding? A. Estimate the value of the land; Determine the replacement or reproduction cost; and Deduct all accrued depreciation. B. Square Foot Cost; Unit in Place; and Quantity Survey MethodC. Square Foot Cost; Value of Land Estimation; and Quantity Survey MethodD. Value of Land Estimation; Unit in Place; and Deduct all accrued depreciation.

Question

Business

Ashleigh Ho

13 January, 15:51

A local school has been destroyed by fire. Nothing has been salvaged and the school will have to completely rebuilt. What are the three methods of determining the cost of rebuilding? A. Estimate the value of the land; Determine the replacement or reproduction cost; and Deduct all accrued depreciation. B. Square Foot Cost; Unit in Place; and Quantity Survey MethodC. Square Foot Cost; Value of Land Estimation; and Quantity Survey MethodD. Value of Land Estimation; Unit in Place; and Deduct all accrued depreciation.

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Answers (1)

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Kinley Edwards · Answer 1

B. Square Foot Cost; Unit in Place; and Quantity Survey Method

Explanation:

As in the question it is provided that fire has destroyed the local school. The recovery value is zero

Thus, the three ways to determine the restoration costs are-

1. Square Foot Cost: To know the cost of a local school's square foot so it provides an idea of the cost of rebuilding

2. Unit in Place: It is a method of estimating the cost of reproduction consisting of cost production and other costs

3. Quantity Survey Method: This is the most comprehensive method that interprets all the components of local building costs due to the brief overview of each cost category i. e. installation costs and other costs.