Auctioneer Exam (Latest Semester) Graded A+

Cost principle {Ans: the actual amount paid or received is the amount recorded in the accounting books}objectivity principle {Ans: each transaction is described by a business document that proves the transition did occur}Where should you take valuable jewelry for authentication and valuation? {Ans: Gemologist}what is the most important tool of the auctioneer? {Ans: product knowledge}what does escheat mean? {Ans: when a person dies and all their belongings go to the state/government}What is the collector and dealer of coins called? {Ans: Numismatist}