Consider the following statements with respect to the methods of valuation and identify correct option.
Statement A: Rental method of valuation is a suitable method of valuation if the rent is known or probable rent is determined by enquiries. .
Statement B: ‘Valuation based on profit’ is a type of ‘development method of valuation’.
1
Statement B is correct and A is incorrect.
2
Statement A is correct and B is incorrect.
3
Both the statements are incorrect.
4
Both the statements are correct.