Evaluation or estimation of worth is known as which of the following?

Evaluation or estimation of worth is known as which of the following?

• A. Appraisal
• B. Valuation
• C. Assessment
• D. Calibration

Answer: (A)

Estimating the monetary worth of an asset is an appraisal. An appraisal is the professional process of determining value by considering factors like condition, market data, and comparable sales. This directly answers the idea of evaluating worth, making it the best fit for the phrase in the question. Valuation is related but often used to describe the broader process or the result in financial contexts, while assessment focuses on quality or performance rather than monetary value, and calibration deals with adjusting measurement tools rather than valuing items.

Estimating the monetary worth of an asset is an appraisal. An appraisal is the professional process of determining value by considering factors like condition, market data, and comparable sales. This directly answers the idea of evaluating worth, making it the best fit for the phrase in the question. Valuation is related but often used to describe the broader process or the result in financial contexts, while assessment focuses on quality or performance rather than monetary value, and calibration deals with adjusting measurement tools rather than valuing items.