1) Which of the following describes hotel valuation methods correctly? A. Cost replacement approach addresses both tangible and intangible personality of a property. B. Sales comparison approach can only be used if appraiser has a way of reliably removing the contributions to the price of tangible and intangible assets. C. Sales replacement approach takes consideration of physical deterioration and functional obsolescence of a property. D. Cost replacement approach uses the cap rate to estimate the selling price of a property. 2) Which of the following does NOT describes hotelvaluation methods correctly? A. Cost replacement approach addresses places value on a property based on the current value of the land. B. Cap rate is a rate of return on a real estate investment based on net operating income and price of a property. C. Income Capitalization approach takes into consideration of the property's future income potential. D. Cost replacement approach uses original cost for site value. 1) Which of the following describes hotel valuation methods correctly? A. Cost replacement approach addresses both tangible and intangible personality of a property. B. Sales comparison approach can only be used if appraiser has a way of reliably removing the contributions to the price of tangible and intangible assets. C. Sales replacement approach takes consideration of physical deterioration and functional obsolescence of a property. D. Cost replacement approach uses the cap rate to estimate the selling price of a property. 2) Which of the following does NOT describes hotelvaluation methods correctly? A. Cost replacement approach addresses places value on a property based on the current value of the land. B. Cap rate is a rate of return on a real estate investment based on net operating income and price of a property. C. Income Capitalization approach takes into consideration of the property's future income potential. D. Cost replacement approach uses original cost for site value