Substitution

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Definition: Substitution

Substitution
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Full Definition of Substitution

An appraisal principle that states that the maximum value of a property tends to be set by the cost of purchasing an equally desirable and valuable substitute property, assuming that no costly delay is encountered in making the substitution.

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To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/substitution/
Modern Language Association (MLA):
Substitution. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
November 08, 2024 https://payrollheaven.com/define/substitution/.
Chicago Manual of Style (CMS):
Substitution. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/substitution/ (accessed: November 08, 2024).
American Psychological Association (APA):
Substitution. PayrollHeaven.com. Retrieved November 08, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/substitution/

Definition Sources

Definitions for Substitution are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 16th November, 2021 | 0 Views.